Taylor Frigon Capital Management LLC Sells 129 Shares of Watsco, Inc. (NYSE:WSO)

Taylor Frigon Capital Management LLC lessened its holdings in Watsco, Inc. (NYSE:WSO) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,085 shares of the construction company’s stock after selling 129 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in Watsco were worth $1,936,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Wingate Wealth Advisors Inc. bought a new stake in Watsco during the fourth quarter worth $36,000. Ashton Thomas Securities LLC bought a new stake in Watsco during the third quarter worth $43,000. Quarry LP raised its position 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 acquiring an additional 33 shares in the last quarter. Brooklyn Investment Group bought a new stake in Watsco during the third quarter worth $48,000. Finally, Golden State Wealth Management LLC bought a new stake in Watsco during the fourth quarter worth $50,000. Institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

NYSE:WSO opened at $498.19 on Thursday. Watsco, Inc. has a one year low of $383.06 and a one year high of $571.41. The company has a market cap of $20.12 billion, a P/E ratio of 37.60 and a beta of 0.95. The firm’s fifty day moving average price is $484.56 and its two-hundred day moving average price is $492.99.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. As a group, equities research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

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

Insider Activity at Watsco

In related 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 12.86% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on WSO. Northcoast Research began coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Robert W. Baird upped their price target on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Raymond James started coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Watsco currently has an average rating of “Hold” and an average price target of $495.00.

Watsco Company 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.