Birch Capital Management LLC Has $1.85 Million Stake in Watsco, Inc. (NYSE:WSO)

Birch Capital Management LLC lowered its holdings in shares of Watsco, Inc. (NYSE:WSO) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,905 shares of the construction company’s stock after selling 133 shares during the period. Watsco comprises 0.9% of Birch Capital Management LLC’s portfolio, making the stock its 28th largest holding. Birch Capital Management LLC’s holdings in Watsco were worth $1,851,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. J. W. Coons Advisors LLC increased its stake in Watsco by 0.7% in the third quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock valued at $1,475,000 after acquiring an additional 20 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after acquiring an additional 22 shares during the period. CWM LLC boosted its stake in shares of Watsco by 2.6% in the 3rd quarter. CWM LLC now owns 952 shares of the construction company’s stock valued at $468,000 after purchasing an additional 24 shares in the last quarter. MCF Advisors LLC grew its holdings 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 purchasing an additional 25 shares during the last quarter. Finally, Equitable Trust Co. increased its position in shares of Watsco by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 1,166 shares of the construction company’s stock worth $574,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analyst Ratings Changes

WSO has been the topic of several research analyst reports. Robert W. Baird decreased their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Northcoast Research began coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating for the company.

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.86% of the stock is currently owned by corporate insiders.

Watsco Stock Performance

NYSE WSO traded down $6.81 during trading hours on Tuesday, reaching $464.56. 287,810 shares of the company’s stock were exchanged, compared to its average volume of 219,948. Watsco, Inc. has a one year low of $373.33 and a one year high of $571.41. The company’s 50-day moving average is $511.35 and its two-hundred day moving average is $492.18. The company has a market capitalization of $18.76 billion, a price-to-earnings ratio of 35.90 and a beta of 0.95.

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

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Friday, January 17th. Watsco’s dividend payout ratio (DPR) is currently 83.46%.

Watsco Company 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.