Mattern Capital Management LLC Has $550,000 Position in Watsco, Inc. (NYSE:WSO)

Mattern Capital Management LLC increased its stake in shares of Watsco, Inc. (NYSE:WSO) by 4.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,160 shares of the construction company’s stock after buying an additional 51 shares during the quarter. Mattern Capital Management LLC’s holdings in Watsco were worth $550,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in WSO. Wingate Wealth Advisors Inc. bought a new position in Watsco during the fourth quarter valued at approximately $36,000. Ashton Thomas Securities LLC bought a new position in Watsco during the third quarter worth $43,000. Quarry LP boosted its stake in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after buying an additional 33 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Watsco during the third quarter worth $48,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Watsco in the 4th quarter valued at $50,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WSO has been the topic of several recent analyst reports. Robert W. Baird boosted their target price on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday. Raymond James initiated coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating for the company. Finally, Northcoast Research started coverage on Watsco in a report on Friday, November 22nd. They set a “neutral” rating for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $495.00.

Watsco Price Performance

Shares of WSO stock opened at $515.53 on Friday. The stock has a market cap of $20.82 billion, a PE ratio of 38.91 and a beta of 0.95. The stock has a 50-day moving average of $484.99 and a 200-day moving average of $491.92. Watsco, Inc. has a one year low of $377.92 and a one year high of $571.41.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) 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 business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. As a group, research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is currently 81.51%.

Insiders Place Their Bets

In other news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.86% of the company’s stock.

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.