GAMMA Investing LLC Acquires 43 Shares of Watsco, Inc. (NYSE:WSO)

GAMMA Investing LLC grew its holdings in shares of Watsco, Inc. (NYSE:WSO) by 8.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 534 shares of the construction company’s stock after purchasing an additional 43 shares during the quarter. GAMMA Investing LLC’s holdings in Watsco were worth $253,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quarry LP purchased a new stake in Watsco during the second quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of Watsco during the 3rd quarter worth approximately $43,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after purchasing an additional 22 shares during the period. Brooklyn Investment Group purchased a new position in Watsco in the third quarter valued at approximately $48,000. Finally, MCF Advisors LLC lifted its stake in Watsco by 27.8% in the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after purchasing an additional 25 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 12.86% of the company’s stock.

Watsco Price Performance

Watsco stock opened at $464.49 on Wednesday. The firm has a market capitalization of $18.76 billion, a P/E ratio of 35.90 and a beta of 0.95. Watsco, Inc. has a one year low of $373.33 and a one year high of $571.41. The business has a fifty day moving average price of $511.17 and a 200-day moving average price of $492.12.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the business earned $4.35 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Sell-side analysts expect that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Friday, January 17th. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WSO shares. Robert W. Baird lowered their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They set a “neutral” rating on the stock.

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.