Watsco, Inc. (NYSE:WSO) is Redmond Asset Management LLC’s 9th Largest Position

Redmond Asset Management LLC increased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,270 shares of the construction company’s stock after purchasing an additional 380 shares during the quarter. Watsco makes up 1.9% of Redmond Asset Management LLC’s portfolio, making the stock its 9th biggest holding. Redmond Asset Management LLC’s holdings in Watsco were worth $7,710,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. J. W. Coons Advisors LLC grew its position in shares of Watsco by 0.7% during the third quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock worth $1,475,000 after purchasing an additional 20 shares in the last quarter. My Legacy Advisors LLC grew its position in shares of Watsco by 3.2% during the fourth quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock worth $329,000 after purchasing an additional 21 shares in the last quarter. Avidian Wealth Enterprises LLC grew its position in shares of Watsco by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock worth $567,000 after purchasing an additional 21 shares in the last quarter. Centennial Wealth Advisory LLC grew its position in shares of Watsco by 3.0% during the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock worth $358,000 after purchasing an additional 22 shares in the last quarter. Finally, Principal Securities Inc. grew its position in shares of Watsco by 6.9% during the fourth quarter. Principal Securities Inc. now owns 373 shares of the construction company’s stock worth $177,000 after purchasing an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Insider Activity

In other news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.86% of the company’s stock.

Watsco Price Performance

NYSE:WSO opened at $498.12 on Friday. The firm has a market capitalization of $20.11 billion, a price-to-earnings ratio of 37.59 and a beta of 0.95. Watsco, Inc. has a 1 year low of $380.58 and a 1 year high of $571.41. The business has a 50 day simple moving average of $484.75 and a 200-day simple moving average of $492.16.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.24. The business 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%. As a group, analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

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

Wall Street Analysts Forecast Growth

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