Delta Financial Group Inc. Makes New $441,000 Investment in Watsco, Inc. (NYSE:WSO)

Delta Financial Group Inc. bought a new position in shares of Watsco, Inc. (NYSE:WSO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 930 shares of the construction company’s stock, valued at approximately $441,000.

A number of other large investors have also recently made changes to their positions in the stock. Wingate Wealth Advisors Inc. bought a new stake in Watsco during the 4th quarter valued at about $36,000. Ashton Thomas Securities LLC purchased a new position in shares of Watsco during the third quarter worth approximately $43,000. Quarry LP increased its position in shares of Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after acquiring an additional 33 shares during the period. Brooklyn Investment Group bought a new stake in shares of Watsco during the third quarter valued at approximately $48,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Watsco in the fourth quarter valued at approximately $50,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Down 3.3 %

Shares of NYSE:WSO opened at $498.12 on Monday. The firm has a 50 day moving average of $484.75 and a 200 day moving average of $492.56. The company has a market capitalization of $20.12 billion, a price-to-earnings ratio of 37.59 and a beta of 0.95. Watsco, Inc. has a 52 week low of $380.58 and a 52 week high of $571.41.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate 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 return on equity of 17.59% and a net margin of 7.04%. On average, sell-side analysts expect that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend 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%.

Insider Activity

In related news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction that occurred on 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 is accessible through the SEC website. Company insiders own 12.86% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on WSO. Raymond James assumed coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating on the stock. Robert W. Baird raised their price target on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Northcoast Research started coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Watsco currently has an average rating of “Hold” and an average target price of $495.00.

Watsco 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.