Thrive Wealth Management LLC Sells 33 Shares of Watsco, Inc. (NYSE:WSO)

Thrive Wealth Management LLC reduced its stake in Watsco, Inc. (NYSE:WSO) by 5.1% during the 4th quarter, Holdings Channel reports. The firm owned 618 shares of the construction company’s stock after selling 33 shares during the period. Thrive Wealth Management LLC’s holdings in Watsco were worth $293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP bought a new position in shares of Watsco in the 2nd quarter worth $26,000. Ashton Thomas Securities LLC bought a new position in Watsco during the third quarter worth about $43,000. Massmutual Trust Co. FSB ADV lifted its holdings in Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after acquiring an additional 22 shares in the last quarter. Brooklyn Investment Group bought a new position in Watsco during the third quarter worth about $48,000. Finally, MCF Advisors LLC lifted its holdings in Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after acquiring an additional 25 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WSO has been the topic of several recent analyst reports. Robert W. Baird reduced their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Raymond James assumed coverage on Watsco in a report on Friday. They issued a “market perform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $488.33.

Watsco Price Performance

Shares of Watsco stock opened at $496.92 on Monday. The firm has a market cap of $20.07 billion, a price-to-earnings ratio of 38.40 and a beta of 0.95. The stock’s 50-day moving average is $508.48 and its 200-day moving average is $492.50. Watsco, Inc. has a one year low of $373.33 and a one year high of $571.41.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $4.35 earnings per share. On average, equities analysts expect that Watsco, Inc. will post 12.97 EPS for the current year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, January 17th. Watsco’s dividend payout ratio is currently 83.46%.

Insider Activity at Watsco

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 transaction was disclosed in a filing with the SEC, which is available at this link. 12.86% of the stock is owned by company insiders.

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.