Oppenheimer & Co. Inc. Purchases 813 Shares of Watsco, Inc. (NYSE:WSO)

Oppenheimer & Co. Inc. increased its position in Watsco, Inc. (NYSE:WSO) by 9.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,311 shares of the construction company’s stock after purchasing an additional 813 shares during the period. Oppenheimer & Co. Inc.’s holdings in Watsco were worth $4,412,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new position in Watsco during the 4th quarter valued at $36,000. Ashton Thomas Securities LLC bought a new position in Watsco during the 3rd quarter valued at $43,000. Quarry LP lifted its stake in Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after acquiring an additional 33 shares in the last quarter. Brooklyn Investment Group bought a new position in Watsco during the 3rd quarter valued at $48,000. Finally, Golden State Wealth Management LLC bought a new position in Watsco during the 4th quarter valued at $50,000. 89.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.86% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on WSO shares. Robert W. Baird raised their price objective on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Loop Capital raised their price objective on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research note on Thursday. Raymond James started coverage on Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Finally, Northcoast Research started coverage on Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Watsco has an average rating of “Hold” and an average price target of $486.25.

Watsco Price Performance

Shares of Watsco stock opened at $503.80 on Friday. The stock has a fifty day moving average price of $485.23 and a 200-day moving average price of $493.29. Watsco, Inc. has a 1 year low of $388.47 and a 1 year high of $571.41. The firm has a market cap of $20.34 billion, a PE ratio of 38.02 and a beta of 0.95.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, topping 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 analyst estimates of $1.67 billion. As a group, equities analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.14%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is currently 81.51%.

About Watsco

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.