Watsco, Inc. (NYSE:WSO) Shares Purchased by Mattern Capital Management LLC

Mattern Capital Management LLC boosted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,160 shares of the construction company’s stock after acquiring an additional 51 shares during the period. Mattern Capital Management LLC’s holdings in Watsco were worth $550,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WSO. Creative Planning grew its holdings in shares of Watsco by 7.7% during the third quarter. Creative Planning now owns 5,212 shares of the construction company’s stock worth $2,564,000 after buying an additional 371 shares in the last quarter. Blue Trust Inc. grew its stake in Watsco by 139.5% during the third quarter. Blue Trust Inc. now owns 527 shares of the construction company’s stock worth $244,000 after buying an additional 307 shares during the period. International Assets Investment Management LLC grew its stake in Watsco by 48,984.7% during the third quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock worth $114,924,000 after buying an additional 233,167 shares during the period. Impact Partnership Wealth LLC purchased a new stake in Watsco during the third quarter worth approximately $397,000. Finally, IFM Investors Pty Ltd lifted its position in shares of Watsco by 1.7% during the third quarter. IFM Investors Pty Ltd now owns 7,356 shares of the construction company’s stock worth $3,618,000 after purchasing an additional 123 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

Watsco stock opened at $515.53 on Friday. The company has a 50-day simple moving average of $484.99 and a 200-day simple moving average of $491.92. The firm has a market capitalization of $20.82 billion, a P/E ratio of 38.91 and a beta of 0.95. Watsco, Inc. has a one year low of $377.92 and a one year high of $571.41.

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

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is 81.51%.

Insider Buying and Selling at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.86% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WSO shares. Robert W. Baird boosted their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday. Raymond James assumed coverage on shares of Watsco in a report on Friday, January 17th. They set a “market perform” rating on the stock. Finally, Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $495.00.

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.