Oppenheimer & Co. Inc. Acquires 813 Shares of Watsco, Inc. (NYSE:WSO)

Oppenheimer & Co. Inc. boosted its position in Watsco, Inc. (NYSE:WSO - Free Report) by 9.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 9,311 shares of the construction company's stock after acquiring an additional 813 shares during the period. Oppenheimer & Co. Inc.'s holdings in Watsco were worth $4,412,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WSO. Oppenheimer Asset Management Inc. boosted its stake in Watsco by 0.4% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 20,774 shares of the construction company's stock worth $9,845,000 after purchasing an additional 79 shares during the period. Mn Services Vermogensbeheer B.V. boosted its position in shares of Watsco by 2.3% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 13,600 shares of the construction company's stock valued at $6,445,000 after acquiring an additional 300 shares during the period. NewEdge Wealth LLC grew its stake in Watsco by 3.2% during the fourth quarter. NewEdge Wealth LLC now owns 11,835 shares of the construction company's stock valued at $5,608,000 after acquiring an additional 367 shares in the last quarter. Cutter & CO Brokerage Inc. increased its holdings in Watsco by 9.4% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 13,763 shares of the construction company's stock worth $6,522,000 after acquiring an additional 1,186 shares during the period. Finally, Lake Street Advisors Group LLC boosted its holdings in Watsco by 285.0% in the 4th quarter. Lake Street Advisors Group LLC now owns 3,011 shares of the construction company's stock valued at $1,427,000 after purchasing an additional 2,229 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

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Watsco Trading Up 1.4 %

WSO stock traded up $7.08 during midday trading on Tuesday, hitting $501.01. The company had a trading volume of 161,425 shares, compared to its average volume of 251,218. Watsco, Inc. has a 52 week low of $388.47 and a 52 week high of $571.41. The stock's 50 day moving average price is $485.33 and its 200 day moving average price is $493.65. The stock has a market cap of $20.23 billion, a price-to-earnings ratio of 37.68 and a beta of 0.95.

Watsco (NYSE:WSO - Get Free Report) last issued 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. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. Analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.16%. Watsco's payout ratio is 81.51%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.86% of the stock is owned by corporate insiders.

About Watsco

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.