Bridges Investment Management Inc. Acquires 608 Shares of Watsco, Inc. (NYSE:WSO)

Bridges Investment Management Inc. grew its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 32.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,495 shares of the construction company's stock after purchasing an additional 608 shares during the quarter. Bridges Investment Management Inc.'s holdings in Watsco were worth $1,182,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new position in shares of Watsco in the 4th quarter worth $36,000. Ashton Thomas Securities LLC acquired a new position in shares of Watsco in the 3rd quarter worth $43,000. Quarry LP grew its holdings in shares of Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company's stock worth $44,000 after acquiring an additional 33 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Watsco in the 3rd quarter worth $48,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Watsco in the fourth quarter worth $50,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the business's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 12.86% of the company's stock.

Wall Street Analysts Forecast Growth

WSO has been the subject of several recent analyst reports. Loop Capital raised their target price on Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research report on Thursday, February 27th. Raymond James initiated coverage on Watsco in a research report on Friday, January 17th. They issued a "market perform" rating for the company. Northcoast Research initiated coverage on Watsco in a research report on Friday, November 22nd. They issued a "neutral" rating for the company. Finally, Robert W. Baird raised their target price on Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $486.25.

Watsco Price Performance

WSO traded down $0.04 during trading on Tuesday, reaching $493.89. 281,923 shares of the stock traded hands, compared to its average volume of 254,257. The stock has a market cap of $19.94 billion, a price-to-earnings ratio of 37.27 and a beta of 0.95. Watsco, Inc. has a fifty-two week low of $388.47 and a fifty-two week high of $571.41. The stock's 50-day simple moving average is $485.38 and its two-hundred day simple moving average is $493.80.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.24. The firm had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. Research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.19%. Watsco's dividend payout ratio is currently 81.51%.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.