Atria Wealth Solutions Inc. Acquires 197 Shares of Watsco, Inc. (NYSE:WSO)

Atria Wealth Solutions Inc. raised its holdings in shares of Watsco, Inc. (NYSE:WSO) by 14.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,607 shares of the construction company’s stock after buying an additional 197 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Watsco were worth $762,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in WSO. FMR LLC grew its holdings in shares of Watsco by 10.6% during the third quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after purchasing an additional 346,470 shares in the last quarter. Benjamin Edwards Inc. lifted its position in Watsco by 2,128.1% during the third quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock valued at $52,880,000 after purchasing an additional 102,640 shares during the last quarter. State Street Corp grew its stake in Watsco by 5.9% in the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock worth $577,350,000 after buying an additional 65,846 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Watsco by 9.9% in the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock worth $345,783,000 after buying an additional 63,254 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Watsco by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock valued at $616,357,000 after buying an additional 62,041 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Down 0.8 %

Shares of NYSE:WSO opened at $497.27 on Wednesday. The stock has a market cap of $20.08 billion, a PE ratio of 37.53 and a beta of 0.95. The company’s fifty day moving average is $484.36 and its 200 day moving average is $492.95. Watsco, Inc. has a 52 week low of $380.58 and a 52 week high of $571.41.

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

Watsco Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently issued reports on WSO. Northcoast Research assumed coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Robert W. Baird lifted their price target on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, Raymond James initiated coverage on Watsco in a research report on Friday, January 17th. They set a “market perform” 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 company’s stock. Based on data from MarketBeat.com, Watsco currently 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 business’s stock in a transaction dated 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 filing with the SEC, which is accessible through this link. 12.86% of the stock is currently owned by company insiders.

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.