Norden Group LLC Purchases 31,621 Shares of Watsco, Inc. (NYSE:WSO)

Norden Group LLC raised its position in Watsco, Inc. (NYSE:WSO) by 2,109.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,120 shares of the construction company’s stock after purchasing an additional 31,621 shares during the quarter. Norden Group LLC owned 0.08% of Watsco worth $14,309,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. LPL Financial LLC raised its position in shares of Watsco by 10.3% during the third quarter. LPL Financial LLC now owns 14,848 shares of the construction company’s stock worth $5,609,000 after acquiring an additional 1,390 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in Watsco by 51.8% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,046 shares of the construction company’s stock worth $395,000 after purchasing an additional 357 shares during the period. Glenmede Trust Co. NA acquired a new stake in Watsco during the third quarter worth approximately $205,000. Advisors Asset Management Inc. grew its stake in Watsco by 6.9% during the third quarter. Advisors Asset Management Inc. now owns 16,906 shares of the construction company’s stock worth $6,386,000 after purchasing an additional 1,092 shares during the period. Finally, Axxcess Wealth Management LLC grew its stake in Watsco by 11.4% during the third quarter. Axxcess Wealth Management LLC now owns 779 shares of the construction company’s stock worth $294,000 after purchasing an additional 80 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Stephens reaffirmed an “overweight” rating and set a $500.00 target price on shares of Watsco in a research note on Thursday, April 25th. Robert W. Baird raised their target price on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $404.25.

Insider Activity at Watsco

In related news, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Barry S. Logan sold 774 shares of Watsco stock in a transaction on Friday, May 10th. The stock was sold at an average price of $473.85, for a total value of $366,759.90. Following the sale, the executive vice president now owns 1,770 shares in the company, valued at $838,714.50. The disclosure for this sale can be found here. 12.86% of the stock is owned by insiders.

Watsco Trading Up 1.1 %

Shares of Watsco stock opened at $481.11 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.92. Watsco, Inc. has a 52 week low of $337.58 and a 52 week high of $493.65. The stock has a 50 day moving average price of $472.11 and a two-hundred day moving average price of $430.86. The stock has a market capitalization of $19.39 billion, a PE ratio of 37.01 and a beta of 0.88.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). Watsco had a net margin of 7.03% and a return on equity of 19.26%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the business posted $2.83 EPS. The company’s revenue was up .9% on a year-over-year basis. As a group, equities analysts anticipate 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 of this dividend is Tuesday, July 16th. This represents a $10.80 annualized dividend and a dividend yield of 2.24%. Watsco’s payout ratio is 83.08%.

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.