Delta Financial Group Inc. Invests $441,000 in Watsco, Inc. (NYSE:WSO)

Delta Financial Group Inc. acquired a new stake in Watsco, Inc. (NYSE:WSO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 930 shares of the construction company’s stock, valued at approximately $441,000.

A number of other institutional investors also recently bought and sold shares of WSO. Toronto Dominion Bank increased its stake in Watsco by 32.2% during the 3rd quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock valued at $2,094,000 after purchasing an additional 1,038 shares in the last quarter. Citizens Financial Group Inc. RI grew its holdings in shares of Watsco by 40.6% during the third quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock valued at $1,582,000 after buying an additional 929 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Watsco by 3,571.0% in the 3rd quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock valued at $560,000 after acquiring an additional 1,107 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in Watsco by 1.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock worth $31,853,000 after acquiring an additional 1,074 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Watsco by 5.6% during the 3rd quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock worth $25,645,000 after acquiring an additional 2,738 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Stock Down 3.3 %

Shares of WSO stock opened at $498.12 on Monday. Watsco, Inc. has a 52-week low of $380.58 and a 52-week high of $571.41. The stock has a market cap of $20.12 billion, a PE ratio of 37.59 and a beta of 0.95. The business has a 50-day simple moving average of $484.75 and a 200-day simple moving average of $492.56.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.24. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Sell-side analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is presently 81.51%.

Insider Buying and Selling

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the company’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 Securities & Exchange Commission, which is available at the SEC website. 12.86% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Robert W. Baird increased their price target on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Raymond James began coverage on shares of Watsco in a research note on Friday, January 17th. They set a “market perform” rating for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Watsco currently has a consensus rating of “Hold” and a consensus target price of $495.00.

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.