Strategic Financial Concepts LLC Invests $11.34 Million in Watsco, Inc. (NYSE:WSO)

Strategic Financial Concepts LLC acquired a new stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 23,923 shares of the construction company's stock, valued at approximately $11,337,000. Strategic Financial Concepts LLC owned about 0.06% of Watsco as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WSO. SG Americas Securities LLC purchased a new stake in shares of Watsco in the third quarter valued at $282,000. CWM LLC raised its holdings in shares of Watsco by 2.6% in the 3rd quarter. CWM LLC now owns 952 shares of the construction company's stock worth $468,000 after purchasing an additional 24 shares during the period. Creative Planning lifted its position in Watsco by 7.7% during the third quarter. Creative Planning now owns 5,212 shares of the construction company's stock valued at $2,564,000 after buying an additional 371 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in Watsco by 1.0% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 22,718 shares of the construction company's stock worth $11,175,000 after purchasing an additional 222 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Watsco by 139.5% in the third quarter. Blue Trust Inc. now owns 527 shares of the construction company's stock valued at $244,000 after buying an additional 307 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company's stock.

Insiders Place Their Bets

In related news, EVP Barry S. Logan sold 10,998 shares of the company's 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.86% of the stock is owned by insiders.

Watsco Stock Performance

Shares of Watsco stock traded down $19.64 on Wednesday, reaching $511.11. 521,635 shares of the company were exchanged, compared to its average volume of 243,351. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41. The firm has a market cap of $20.64 billion, a price-to-earnings ratio of 39.50 and a beta of 0.95. The company's 50-day moving average is $484.90 and its two-hundred day moving average is $491.75.

Watsco (NYSE:WSO - Get Free Report) last posted its earnings results 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 return on equity of 17.77% and a net margin of 6.99%. The company had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.67 billion. As a group, sell-side analysts forecast that Watsco, Inc. will post 13.03 earnings per share for the current year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Friday, January 17th. Watsco's payout ratio is 83.46%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Raymond James began coverage on Watsco in a research report on Friday, January 17th. They set a "market perform" rating on the stock. Northcoast Research began coverage on Watsco in a research report on Friday, November 22nd. They issued a "neutral" rating for the company. Finally, Robert W. Baird increased their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $495.00.

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.