Avidian Wealth Solutions LLC Has $620,000 Holdings in Watsco, Inc. (NYSE:WSO)

Avidian Wealth Solutions LLC trimmed its stake in Watsco, Inc. (NYSE:WSOFree Report) by 15.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,435 shares of the construction company’s stock after selling 272 shares during the period. Avidian Wealth Solutions LLC’s holdings in Watsco were worth $620,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Shaker Investments LLC OH increased its position in shares of Watsco by 0.3% during the first quarter. Shaker Investments LLC OH now owns 7,564 shares of the construction company’s stock worth $3,267,000 after buying an additional 24 shares during the period. Hartford Financial Management Inc. raised its position in shares of Watsco by 53.1% in the 4th quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock worth $32,000 after acquiring an additional 26 shares in the last quarter. Raleigh Capital Management Inc. lifted 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 purchasing an additional 28 shares during the period. Lindbrook Capital LLC boosted its position in shares of Watsco by 53.8% during the 4th quarter. Lindbrook Capital LLC now owns 80 shares of the construction company’s stock valued at $34,000 after purchasing an additional 28 shares in the last quarter. Finally, 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 valued at $312,000 after purchasing an additional 28 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WSO. Stephens reissued an “overweight” rating and issued a $500.00 price target on shares of Watsco in a research note on Thursday, April 25th. Robert W. Baird boosted their target price on shares of Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Watsco presently has an average rating of “Hold” and a consensus price target of $404.25.

Check Out Our Latest Analysis on WSO

Watsco Stock Up 1.9 %

Shares of WSO traded up $9.00 during trading hours on Wednesday, reaching $485.90. The stock had a trading volume of 219,607 shares, compared to its average volume of 317,619. The firm has a 50-day simple moving average of $475.58 and a 200 day simple moving average of $432.88. Watsco, Inc. has a 12 month low of $337.58 and a 12 month high of $493.65. The company has a current ratio of 2.92, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $19.58 billion, a price-to-earnings ratio of 37.38 and a beta of 0.88.

Watsco (NYSE:WSOGet Free Report) last released 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). The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.83 EPS. Equities research analysts predict that Watsco, Inc. will post 14.26 earnings per share for the current fiscal year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Tuesday, July 16th will be given a dividend of $2.70 per share. The ex-dividend date is Tuesday, July 16th. This represents a $10.80 annualized dividend and a dividend yield of 2.22%. Watsco’s payout ratio is 83.08%.

Insider Buying and Selling

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

Watsco Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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