CreativeOne Wealth LLC Decreases Stake in Watsco, Inc. (NYSE:WSO)

CreativeOne Wealth LLC trimmed its holdings in Watsco, Inc. (NYSE:WSO) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,951 shares of the construction company’s stock after selling 110 shares during the period. CreativeOne Wealth LLC’s holdings in Watsco were worth $836,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hartford Financial Management Inc. raised its position in Watsco by 53.1% in the fourth quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock valued at $32,000 after purchasing an additional 26 shares during the period. Raleigh Capital Management Inc. raised its stake in shares of Watsco by 35.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company’s stock valued at $41,000 after acquiring an additional 28 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of Watsco by 53.8% in the 4th quarter. Lindbrook Capital LLC now owns 80 shares of the construction company’s stock worth $34,000 after acquiring an additional 28 shares during the last quarter. Lincoln National Corp boosted its position in shares of Watsco by 4.0% during the 4th quarter. Lincoln National Corp now owns 728 shares of the construction company’s stock worth $312,000 after purchasing an additional 28 shares during the period. Finally, Allworth Financial LP increased its holdings in Watsco by 44.1% in the 4th quarter. Allworth Financial LP now owns 98 shares of the construction company’s stock valued at $42,000 after purchasing an additional 30 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John Alexander Macdonald sold 5,334 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $466.41, for a total transaction of $2,487,830.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Watsco news, Director John Alexander Macdonald sold 5,334 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total value of $2,487,830.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Barry S. Logan sold 774 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $473.85, for a total value of $366,759.90. Following the completion of the sale, the executive vice president now directly owns 1,770 shares of the company’s stock, valued at approximately $838,714.50. The disclosure for this sale can be found here. 12.86% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Robert W. Baird upped their price target on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Stephens reissued an “overweight” rating and set a $500.00 target price on shares of Watsco in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $404.25.

Watsco Stock Performance

NYSE:WSO opened at $483.19 on Thursday. The business’s fifty day moving average price is $440.81 and its 200 day moving average price is $413.44. The firm has a market capitalization of $19.47 billion, a PE ratio of 37.17 and a beta of 0.86. Watsco, Inc. has a 12 month low of $315.17 and a 12 month high of $488.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.31.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $2.17 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.09). Watsco had a net margin of 7.03% and a return on equity of 19.26%. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the firm earned $2.83 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. On average, sell-side analysts anticipate that Watsco, Inc. will post 14.23 earnings per share for the current fiscal year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were issued a $2.70 dividend. The ex-dividend date was Friday, April 12th. This is a boost from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a dividend yield of 2.24%. Watsco’s dividend payout ratio (DPR) is 83.08%.

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.