Wolverine Asset Management LLC Purchases 900 Shares of Watsco, Inc. (NYSE:WSO)

by · The Markets Daily

Wolverine Asset Management LLC boosted its holdings in shares of Watsco, Inc. (NYSE:WSOFree Report) by 27.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,200 shares of the construction company’s stock after buying an additional 900 shares during the period. Wolverine Asset Management LLC’s holdings in Watsco were worth $1,990,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wingate Wealth Advisors Inc. bought a new stake in shares of Watsco during the 4th quarter valued at about $36,000. Ashton Thomas Securities LLC bought a new stake in Watsco during the third quarter valued at approximately $43,000. Quarry LP lifted its position 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 purchasing an additional 33 shares during the last quarter. Brooklyn Investment Group purchased a new position in Watsco in the 3rd quarter worth approximately $48,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Watsco in the 4th quarter worth $50,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Barry S. Logan sold 10,998 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.86% of the company’s stock.

Watsco Stock Performance

Shares of Watsco stock opened at $498.12 on Friday. The stock has a market capitalization of $20.11 billion, a price-to-earnings ratio of 37.59 and a beta of 0.95. The company has a fifty day moving average of $484.75 and a 200-day moving average of $492.16. Watsco, Inc. has a 52-week low of $380.58 and a 52-week high of $571.41.

Watsco (NYSE:WSOGet 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 business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. On average, equities research analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were given a dividend of $2.70 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.17%. Watsco’s payout ratio is 81.51%.

Analyst Ratings Changes

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

View Our Latest Stock Report on WSO

About Watsco

(Free Report)

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.

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