Watsco, Inc. (NYSE:WSO) is Dearborn Partners LLC's 9th Largest Position

Dearborn Partners LLC cut its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,485 shares of the construction company's stock after selling 1,090 shares during the period. Watsco accounts for approximately 1.9% of Dearborn Partners LLC's investment portfolio, making the stock its 9th largest holding. Dearborn Partners LLC owned 0.23% of Watsco worth $44,775,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Rialto Wealth Management LLC acquired a new position in shares of Watsco during the fourth quarter valued at $31,000. Wingate Wealth Advisors Inc. bought a new position in Watsco during the fourth quarter valued at about $36,000. Ashton Thomas Securities LLC bought a new position in Watsco during the third quarter valued at about $43,000. Quarry LP boosted its stake in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company's stock valued at $44,000 after buying an additional 33 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in Watsco during the third quarter valued at about $48,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Robert W. Baird increased their price target on Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Northcoast Research assumed coverage on Watsco in a research note on Friday, November 22nd. They issued a "neutral" rating on the stock. Raymond James initiated coverage on Watsco in a research note on Friday, January 17th. They issued a "market perform" rating on the stock. Finally, Loop Capital lifted their price target on Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $486.25.

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Watsco Stock Performance

NYSE WSO traded down $14.12 during trading hours on Tuesday, hitting $506.39. 422,013 shares of the company traded hands, compared to its average volume of 274,785. The business's 50-day moving average is $487.87 and its 200-day moving average is $494.76. Watsco, Inc. has a twelve month low of $393.88 and a twelve month high of $571.41. The stock has a market capitalization of $20.45 billion, a price-to-earnings ratio of 38.22 and a beta of 0.92.

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 the consensus estimate of $2.13 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. Analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.13%. Watsco's dividend payout ratio (DPR) is presently 81.51%.

Insider Buying and Selling at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 12.86% of the company's stock.

Watsco 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.