Thrive Wealth Management LLC Sells 33 Shares of Watsco, Inc. (NYSE:WSO)

Thrive Wealth Management LLC decreased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 618 shares of the construction company’s stock after selling 33 shares during the quarter. Thrive Wealth Management LLC’s holdings in Watsco were worth $293,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Watsco during the 2nd quarter valued at approximately $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Watsco in the 3rd quarter worth approximately $43,000. Massmutual Trust Co. FSB ADV lifted its position 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 acquiring an additional 22 shares during the period. Brooklyn Investment Group bought a new stake in shares of Watsco in the 3rd quarter worth approximately $48,000. Finally, MCF Advisors LLC lifted its position in shares of Watsco by 27.8% in the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after acquiring an additional 25 shares during the period. Institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Northcoast Research assumed coverage on Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Raymond James assumed coverage on Watsco in a research report on Friday. They issued a “market perform” rating for the company. Finally, Robert W. Baird reduced their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $488.33.

Insider Activity 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 value of $5,589,293.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.86% of the company’s stock.

Watsco Price Performance

Watsco stock opened at $496.92 on Monday. The company has a market capitalization of $20.07 billion, a PE ratio of 38.40 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 50 day simple moving average of $508.48 and a 200 day simple moving average of $492.50.

Watsco (NYSE:WSO) last posted 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). The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. Watsco’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $4.35 EPS. Equities analysts anticipate that Watsco, Inc. will post 12.97 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.17%. Watsco’s dividend payout ratio is 83.46%.

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.