Concurrent Investment Advisors LLC Sells 295 Shares of Watsco, Inc. (NYSE:WSO)

Concurrent Investment Advisors LLC reduced its position in Watsco, Inc. (NYSE:WSO) by 10.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,489 shares of the construction company’s stock after selling 295 shares during the period. Concurrent Investment Advisors LLC’s holdings in Watsco were worth $1,180,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WSO. Wingate Wealth Advisors Inc. bought a new position in shares of Watsco in the 4th quarter worth $36,000. Ashton Thomas Securities LLC bought a new position in shares of Watsco in the 3rd quarter worth $43,000. Quarry LP lifted its holdings in shares of Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after purchasing an additional 33 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Watsco in the 3rd quarter worth $48,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Watsco in the 4th quarter worth $50,000. 89.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Northcoast Research started coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Raymond James started coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating on the stock. Finally, 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Watsco has a consensus rating of “Hold” and a consensus price target of $495.00.

Insider Transactions at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 12.86% of the company’s stock.

Watsco Trading Down 3.3 %

Shares of NYSE:WSO opened at $498.12 on Friday. The stock’s fifty day simple moving average is $484.75 and its two-hundred day simple moving average is $492.37. Watsco, Inc. has a 1-year low of $380.58 and a 1-year high of $571.41. The stock has a market cap of $20.11 billion, a PE ratio of 37.59 and a beta of 0.95.

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

Watsco Announces Dividend

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

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.