1,359 Shares in Watsco, Inc. (NYSE:WSO) Bought by Verity & Verity LLC

Verity & Verity LLC acquired a new stake in Watsco, Inc. (NYSE:WSO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,359 shares of the construction company's stock, valued at approximately $644,000.

Several other large investors have also recently added to or reduced their stakes in WSO. Avanza Fonder AB purchased a new stake in Watsco during the fourth quarter valued at about $1,854,000. Fifth Third Wealth Advisors LLC raised its holdings in Watsco by 19.0% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 1,299 shares of the construction company's stock valued at $616,000 after acquiring an additional 207 shares in the last quarter. Fulcrum Capital LLC grew its stake in Watsco by 8.4% in the fourth quarter. Fulcrum Capital LLC now owns 671 shares of the construction company's stock worth $318,000 after purchasing an additional 52 shares in the last quarter. First Hawaiian Bank grew its position in shares of Watsco by 1.0% in the 4th quarter. First Hawaiian Bank now owns 4,435 shares of the construction company's stock worth $2,102,000 after acquiring an additional 46 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new stake in Watsco during the fourth quarter valued at $445,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Stock Up 1.2 %

Shares of WSO traded up $5.82 during mid-day trading on Friday, reaching $496.92. The company's stock had a trading volume of 204,978 shares, compared to its average volume of 201,972. The business has a fifty day moving average of $508.48 and a 200 day moving average of $492.42. The company has a market cap of $20.07 billion, a price-to-earnings ratio of 38.40 and a beta of 0.95. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last released its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.73 by ($0.51). The company had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.35 EPS. On average, analysts predict that Watsco, Inc. will post 12.97 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $2.70 dividend. The ex-dividend date is Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.17%. Watsco's dividend payout ratio is currently 83.46%.

Insider Activity at Watsco

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

Analysts Set New Price Targets

WSO has been the subject of a number of recent research reports. Raymond James initiated coverage on Watsco in a research note on Friday. They set a "market perform" rating for the company. Northcoast Research started coverage on Watsco in a report on Friday, November 22nd. They set a "neutral" rating on the stock. Finally, Robert W. Baird dropped their price target on Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $488.33.

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.