Running Oak Capital LLC Raises Stake in Watsco, Inc. (NYSE:WSO)

Running Oak Capital LLC increased its stake in Watsco, Inc. (NYSE:WSO) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,659 shares of the construction company’s stock after purchasing an additional 1,135 shares during the quarter. Running Oak Capital LLC owned 0.07% of Watsco worth $13,581,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its position in Watsco by 10.6% during the third quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after buying an additional 346,470 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Watsco by 48,984.7% in the 3rd quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock worth $114,924,000 after acquiring an additional 233,167 shares during the period. Benjamin Edwards Inc. raised its holdings in Watsco by 2,128.1% during the third quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock worth $52,880,000 after purchasing an additional 102,640 shares during the last quarter. State Street Corp boosted its position in Watsco by 5.9% during the third quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock worth $577,350,000 after purchasing an additional 65,846 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Watsco by 9.9% in the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock valued at $345,783,000 after purchasing an additional 63,254 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Trading Down 0.6 %

NYSE:WSO opened at $494.93 on Friday. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $571.41. The firm has a market cap of $19.99 billion, a price-to-earnings ratio of 38.25 and a beta of 0.95. The company’s 50-day moving average is $505.31 and its two-hundred day moving average is $493.11.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.73 by ($0.51). The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $4.35 EPS. On average, equities research analysts forecast that Watsco, Inc. will post 13.03 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Friday, January 17th. Watsco’s dividend payout ratio (DPR) is 83.46%.

Insider Activity

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 12.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Robert W. Baird cut their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Raymond James initiated coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Finally, Northcoast Research assumed coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Watsco currently has an average rating of “Hold” and a consensus target price of $488.33.

About Watsco

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.