Fort Point Capital Partners LLC Acquires New Shares in Watsco, Inc. (NYSE:WSO)

Fort Point Capital Partners LLC purchased a new stake in shares of Watsco, Inc. (NYSE:WSOGet Rating) during the 4th quarter, Holdings Channel.com reports. The fund purchased 706 shares of the construction company’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantum Capital Management LLC NJ raised its holdings in Watsco by 0.5% in the 4th quarter. Quantum Capital Management LLC NJ now owns 26,410 shares of the construction company’s stock worth $8,263,000 after purchasing an additional 132 shares during the period. Gotham Asset Management LLC grew its position in Watsco by 258.6% in the fourth quarter. Gotham Asset Management LLC now owns 5,673 shares of the construction company’s stock worth $1,775,000 after acquiring an additional 4,091 shares in the last quarter. Fiduciary Trust Co. boosted its position in shares of Watsco by 34.8% during the fourth quarter. Fiduciary Trust Co. now owns 10,844 shares of the construction company’s stock valued at $3,393,000 after buying an additional 2,800 shares during the period. Hilltop Holdings Inc. boosted its position in shares of Watsco by 18.4% during the fourth quarter. Hilltop Holdings Inc. now owns 1,673 shares of the construction company’s stock valued at $523,000 after buying an additional 260 shares during the period. Finally, Schroder Investment Management Group boosted its position in shares of Watsco by 3.4% during the fourth quarter. Schroder Investment Management Group now owns 166,858 shares of the construction company’s stock valued at $52,207,000 after buying an additional 5,549 shares during the period. 78.13% of the stock is currently owned by hedge funds and other institutional investors.

WSO has been the subject of several recent analyst reports. KeyCorp upgraded Watsco from a “sector weight” rating to an “overweight” rating and set a $320.00 target price for the company in a research report on Monday, February 14th. Morgan Stanley dropped their target price on Watsco from $288.00 to $277.00 and set an “equal weight” rating for the company in a research report on Friday, April 22nd. StockNews.com downgraded shares of Watsco from a “buy” rating to a “hold” rating in a research note on Saturday, April 30th. Finally, Robert W. Baird lifted their price target on shares of Watsco from $300.00 to $350.00 in a research note on Friday, April 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $316.29.

NYSE:WSO traded up $0.71 during trading hours on Wednesday, reaching $244.76. The company’s stock had a trading volume of 2,301 shares, compared to its average volume of 227,148. The company has a market capitalization of $9.54 billion, a P/E ratio of 20.03 and a beta of 0.88. Watsco, Inc. has a 12 month low of $239.62 and a 12 month high of $318.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.11 and a current ratio of 2.77. The stock has a 50 day moving average price of $281.85 and a two-hundred day moving average price of $287.96.

Watsco (NYSE:WSOGet Rating) last issued its quarterly earnings data on Thursday, April 21st. The construction company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $1.08. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.39 billion. Watsco had a net margin of 7.16% and a return on equity of 23.76%. Watsco’s revenue for the quarter was up 34.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.39 earnings per share. As a group, analysts predict that Watsco, Inc. will post 13.97 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Investors of record on Thursday, April 14th were paid a $2.20 dividend. This is an increase from Watsco’s previous quarterly dividend of $1.95. The ex-dividend date was Wednesday, April 13th. This represents a $8.80 dividend on an annualized basis and a yield of 3.60%. Watsco’s payout ratio is 71.84%.

In other news, Director Brian E. Keeley sold 11,000 shares of the company’s stock in a transaction on Wednesday, March 23rd. The stock was sold at an average price of $299.68, for a total transaction of $3,296,480.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 13.31% of the company’s stock.

Watsco Company Profile (Get Rating)

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, refrigeration equipment, and related parts and supplies. The company distributes equipment comprising residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

See Also

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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