Hamlin Capital Management LLC Acquires 30,477 Shares of Watsco, Inc. (NYSE:WSO)

Hamlin Capital Management LLC raised its holdings in Watsco, Inc. (NYSE:WSO) by 9.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 345,020 shares of the construction company’s stock after purchasing an additional 30,477 shares during the period. Watsco makes up about 4.0% of Hamlin Capital Management LLC’s portfolio, making the stock its 12th largest holding. Hamlin Capital Management LLC owned approximately 0.85% of Watsco worth $163,502,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP bought a new stake in shares of Watsco during the 2nd quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Watsco during the 3rd quarter worth approximately $43,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Watsco by 30.6% during 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 during the 3rd quarter worth approximately $48,000. Finally, MCF Advisors LLC lifted its holdings in shares of Watsco by 27.8% during 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.

Watsco Stock Performance

Shares of NYSE WSO opened at $496.92 on Tuesday. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41. The firm has a 50 day moving average price of $507.68 and a two-hundred day moving average price of $492.62. The stock has a market cap of $20.07 billion, a P/E ratio of 38.40 and a beta of 0.95.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share 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 firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the company earned $4.35 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. Analysts predict that Watsco, Inc. will post 13.04 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.17%. The ex-dividend date is Friday, January 17th. Watsco’s dividend payout ratio is presently 83.46%.

Insider Buying and Selling

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were 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 SEC, which is available through the SEC website. 12.86% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on WSO shares. Raymond James started coverage on shares of Watsco in a research report on Friday. They set a “market perform” rating for the company. Northcoast Research initiated coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Finally, Robert W. Baird decreased their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Watsco presently has a consensus rating of “Hold” and a consensus target price of $488.33.

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.