Mather Group LLC. Invests $114,000 in Watsco, Inc. (NYSE:WSO)

Mather Group LLC. purchased a new position in Watsco, Inc. (NYSE:WSO) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 266 shares of the construction company’s stock, valued at approximately $114,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Watsco by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 3,265,589 shares of the construction company’s stock worth $1,399,207,000 after purchasing an additional 55,119 shares during the last quarter. Wellington Management Group LLP lifted its stake in Watsco by 2.6% in the third quarter. Wellington Management Group LLP now owns 648,662 shares of the construction company’s stock worth $245,013,000 after acquiring an additional 16,589 shares during the period. Markel Group Inc. lifted its stake in Watsco by 2.0% in the fourth quarter. Markel Group Inc. now owns 556,750 shares of the construction company’s stock worth $238,551,000 after acquiring an additional 11,000 shares during the period. Baird Financial Group Inc. lifted its stake in Watsco by 4.8% in the fourth quarter. Baird Financial Group Inc. now owns 340,023 shares of the construction company’s stock worth $145,690,000 after acquiring an additional 15,552 shares during the period. Finally, First Trust Advisors LP lifted its stake in Watsco by 2.0% in the fourth quarter. First Trust Advisors LP now owns 310,787 shares of the construction company’s stock worth $133,163,000 after acquiring an additional 5,949 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Insider Activity at Watsco

In related news, Director John Alexander Macdonald sold 5,334 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total value of $2,487,830.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Barry S. Logan sold 774 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $473.85, for a total value of $366,759.90. Following the transaction, the executive vice president now owns 1,770 shares in the company, valued at approximately $838,714.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John Alexander Macdonald sold 5,334 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $466.41, for a total transaction of $2,487,830.94. The disclosure for this sale can be found here. 12.86% of the stock is currently owned by insiders.

Watsco Stock Performance

WSO stock opened at $471.74 on Friday. The firm has a market cap of $19.01 billion, a price-to-earnings ratio of 36.29 and a beta of 0.88. The firm has a 50-day simple moving average of $462.52 and a two-hundred day simple moving average of $427.26. Watsco, Inc. has a one year low of $337.58 and a one year high of $493.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.92.

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.09). The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Watsco had a net margin of 7.03% and a return on equity of 19.26%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.83 earnings per share. On average, equities analysts forecast that Watsco, Inc. will post 14.26 EPS for the current fiscal year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were given a $2.70 dividend. This is a positive change from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Friday, April 12th. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WSO shares. Robert W. Baird upped their price objective on shares of Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Stephens reaffirmed an “overweight” rating and issued a $500.00 price objective on shares of Watsco in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $404.25.

Watsco Company 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.