Callan Family Office LLC Buys New Position in Watsco, Inc. (NYSE:WSO)

Callan Family Office LLC bought a new stake in Watsco, Inc. (NYSE:WSO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 842 shares of the construction company's stock, valued at approximately $399,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vestmark Advisory Solutions Inc. raised its position in Watsco by 3.4% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 11,640 shares of the construction company's stock worth $5,516,000 after acquiring an additional 383 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in shares of Watsco by 13.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 373 shares of the construction company's stock valued at $177,000 after buying an additional 43 shares during the last quarter. Arizona State Retirement System raised its position in shares of Watsco by 1.5% in the fourth quarter. Arizona State Retirement System now owns 10,104 shares of the construction company's stock valued at $4,788,000 after buying an additional 149 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Watsco in the fourth quarter valued at approximately $63,603,000. Finally, M&T Bank Corp raised its position in shares of Watsco by 1.4% in the fourth quarter. M&T Bank Corp now owns 1,686 shares of the construction company's stock valued at $799,000 after buying an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Loop Capital boosted their price objective on shares of Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research report on Thursday, February 27th. Northcoast Research started coverage on shares of Watsco in a report on Friday, November 22nd. They issued a "neutral" rating for the company. Raymond James started coverage on shares of Watsco in a research note on Friday, January 17th. They set a "market perform" rating for the company. Finally, Robert W. Baird boosted their price objective on shares of Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Four investment 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, Watsco has a consensus rating of "Hold" and a consensus target price of $486.25.

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Watsco Stock Performance

Shares of WSO stock traded up $1.54 on Wednesday, hitting $507.03. The stock had a trading volume of 37,053 shares, compared to its average volume of 269,389. The firm has a market capitalization of $20.47 billion, a price-to-earnings ratio of 38.27 and a beta of 0.92. The stock's 50 day moving average is $487.87 and its 200-day moving average is $494.76. Watsco, Inc. has a 52-week low of $393.88 and a 52-week high of $571.41.

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

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.13%. Watsco's dividend payout ratio (DPR) is presently 81.51%.

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 12.86% of the company's stock.

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.