Oppenheimer Asset Management Inc. Buys 79 Shares of Watsco, Inc. (NYSE:WSO)

Oppenheimer Asset Management Inc. boosted its stake in Watsco, Inc. (NYSE:WSO) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,774 shares of the construction company’s stock after purchasing an additional 79 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.05% of Watsco worth $9,845,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arkadios Wealth Advisors increased its position in Watsco by 19.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 644 shares of the construction company’s stock valued at $317,000 after buying an additional 105 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Watsco by 16.1% during the third quarter. State of Alaska Department of Revenue now owns 4,037 shares of the construction company’s stock valued at $1,985,000 after acquiring an additional 560 shares in the last quarter. abrdn plc raised its position in shares of Watsco by 1.2% during the third quarter. abrdn plc now owns 14,996 shares of the construction company’s stock worth $7,378,000 after purchasing an additional 172 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in shares of Watsco by 8.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,888 shares of the construction company’s stock worth $929,000 after purchasing an additional 140 shares in the last quarter. Finally, HM Payson & Co. grew its position in Watsco by 83.0% in the 3rd quarter. HM Payson & Co. now owns 410 shares of the construction company’s stock valued at $202,000 after purchasing an additional 186 shares during the period. 89.71% of the stock is owned by institutional investors.

Watsco Price Performance

Shares of WSO stock opened at $499.55 on Friday. Watsco, Inc. has a one year low of $387.58 and a one year high of $571.41. The company has a market cap of $20.17 billion, a P/E ratio of 37.70 and a beta of 0.95. The firm has a 50-day moving average of $484.84 and a 200-day moving average of $493.04.

Watsco (NYSE:WSO) last posted its earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.13 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. As a group, research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.16%. Watsco’s dividend payout ratio is currently 81.51%.

Analyst Upgrades and Downgrades

WSO has been the topic of several research reports. Loop Capital upped their price objective on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a report on Thursday. Raymond James began coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating on the stock. Northcoast Research assumed coverage on Watsco in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Finally, Robert W. Baird increased their price objective on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Watsco has an average rating of “Hold” and a consensus target price of $486.25.

Insider Buying and Selling at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the business’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 SEC, which can be accessed through the SEC website. Corporate insiders own 12.86% of the company’s stock.

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.