Bath Savings Trust Co Sells 671 Shares of Watsco, Inc. (NYSE:WSO)

Bath Savings Trust Co lessened its stake in shares of Watsco, Inc. (NYSE:WSO) by 1.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 39,529 shares of the construction company’s stock after selling 671 shares during the quarter. Watsco comprises about 1.9% of Bath Savings Trust Co’s portfolio, making the stock its 17th largest holding. Bath Savings Trust Co’s holdings in Watsco were worth $18,732,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of WSO. Quarry LP bought a new stake in shares of Watsco during the second quarter worth approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in Watsco during the 3rd quarter worth approximately $43,000. Massmutual Trust Co. FSB ADV boosted its stake in Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after purchasing an additional 22 shares during the period. Brooklyn Investment Group acquired a new position in Watsco in the 3rd quarter valued at $48,000. Finally, MCF Advisors LLC increased its position in Watsco by 27.8% during the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after buying an additional 25 shares during the period. Institutional investors own 89.71% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.86% of the company’s stock.

Watsco Stock Down 1.5 %

Shares of WSO traded down $6.86 during trading hours on Tuesday, hitting $464.51. 274,952 shares of the company were exchanged, compared to its average volume of 217,420. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The company has a market cap of $18.76 billion, a price-to-earnings ratio of 35.90 and a beta of 0.95. The firm’s fifty day moving average is $511.35 and its 200 day moving average is $492.18.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.35 earnings per share. Analysts anticipate that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a dividend of $2.70 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.33%. Watsco’s dividend payout ratio is currently 83.46%.

Wall Street Analysts Forecast Growth

WSO has been the topic of several research reports. Robert W. Baird decreased their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Northcoast Research started coverage on shares of Watsco in a report on Friday, November 22nd. They set a “neutral” rating on the stock.

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.