Principal Securities Inc. Increases Stock Holdings in Watsco, Inc. (NYSE:WSO)

Principal Securities Inc. grew its stake in Watsco, Inc. (NYSE:WSO) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 373 shares of the construction company’s stock after purchasing an additional 24 shares during the period. Principal Securities Inc.’s holdings in Watsco were worth $177,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Rhumbline Advisers raised its holdings in Watsco by 1.5% during the fourth quarter. Rhumbline Advisers now owns 106,391 shares of the construction company’s stock worth $50,418,000 after purchasing an additional 1,601 shares in the last quarter. New Mexico Educational Retirement Board raised its stake in shares of Watsco by 11.2% during the 4th quarter. New Mexico Educational Retirement Board now owns 7,118 shares of the construction company’s stock worth $3,373,000 after buying an additional 718 shares in the last quarter. Adell Harriman & Carpenter Inc. acquired a new stake in shares of Watsco in the 4th quarter valued at approximately $433,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Watsco in the fourth quarter valued at approximately $1,003,000. Finally, Avidian Wealth Enterprises LLC boosted its stake in shares of Watsco by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock valued at $567,000 after buying an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Up 0.4 %

NYSE:WSO opened at $500.57 on Tuesday. The company has a market capitalization of $20.21 billion, a PE ratio of 37.78 and a beta of 0.95. The stock has a fifty day simple moving average of $484.58 and a 200-day simple moving average of $492.77. Watsco, Inc. has a 52-week low of $380.58 and a 52-week high of $571.41.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. As a group, equities analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.16%. Watsco’s dividend payout ratio is currently 81.51%.

Analysts Set New Price Targets

A number of research firms have commented on WSO. Northcoast Research began coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Raymond James assumed coverage on shares of Watsco in a research note on Friday, January 17th. They issued a “market perform” 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 company an “outperform” rating in a report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $495.00.

Insider Activity at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction that occurred 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 filing with the SEC, which is accessible through this hyperlink. Corporate 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.