Princeton Global Asset Management LLC Sells 50 Shares of Watsco, Inc. (NYSE:WSO)


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Princeton Global Asset Management LLC lowered its stake in Watsco, Inc. (NYSE:WSO) by 0.6% in the 4th quarter, Holdings Channel reports. The firm owned 7,697 shares of the construction company’s stock after selling 50 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Watsco were worth $1,744,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc boosted its stake in Watsco by 91.4% in the 4th quarter. IFP Advisors Inc now owns 178 shares of the construction company’s stock worth $40,000 after purchasing an additional 85 shares during the period. Ropes Wealth Advisors LLC raised its holdings in shares of Watsco by 58.7% in the 4th quarter. Ropes Wealth Advisors LLC now owns 200 shares of the construction company’s stock valued at $45,000 after acquiring an additional 74 shares in the last quarter. Graves Light Private Wealth Management Inc. purchased a new stake in shares of Watsco in the 4th quarter valued at about $46,000. JJJ Advisors Inc. raised its holdings in shares of Watsco by 213.4% in the 4th quarter. JJJ Advisors Inc. now owns 210 shares of the construction company’s stock valued at $48,000 after acquiring an additional 143 shares in the last quarter. Finally, Black Swift Group LLC purchased a new stake in shares of Watsco in the 4th quarter valued at about $78,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

WSO has been the topic of a number of research reports. William Blair reissued an “outperform” rating on shares of Watsco in a report on Wednesday, January 20th. Morgan Stanley raised their price objective on Watsco from $219.00 to $233.00 and gave the company an “equal weight” rating in a report on Friday, February 12th. Jefferies Financial Group raised their price objective on Watsco from $230.00 to $250.00 and gave the company a “hold” rating in a report on Friday, January 15th. Finally, Vertical Research raised Watsco from a “sell” rating to a “hold” rating in a report on Monday, January 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Watsco presently has a consensus rating of “Hold” and an average target price of $219.20.

WSO traded down $1.98 on Tuesday, hitting $242.24. 725 shares of the company were exchanged, compared to its average volume of 196,162. The stock has a market capitalization of $9.32 billion, a PE ratio of 39.83 and a beta of 0.79. Watsco, Inc. has a 12 month low of $132.97 and a 12 month high of $265.18. The firm has a fifty day simple moving average of $243.75 and a two-hundred day simple moving average of $235.55. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.22 and a current ratio of 2.55.

Watsco (NYSE:WSO) last released its quarterly earnings results on Thursday, February 11th. The construction company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.13. Watsco had a return on equity of 13.38% and a net margin of 4.77%. On average, equities analysts expect that Watsco, Inc. will post 6.48 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 29th. Investors of record on Friday, January 15th were given a dividend of $1.775 per share. The ex-dividend date of this dividend was Thursday, January 14th. This represents a $7.10 annualized dividend and a dividend yield of 2.93%. Watsco’s dividend payout ratio is presently 109.23%.

Watsco Profile

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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