Watsco, Inc. (NYSE:WSO) EVP Barry S. Logan Sells 10,998 Shares

Watsco, Inc. (NYSE:WSO) EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Watsco Trading Down 4.0 %

WSO traded down $20.58 during trading on Wednesday, hitting $487.89. 200,502 shares of the company’s stock were exchanged, compared to its average volume of 275,520. The stock has a 50 day moving average price of $513.30 and a 200 day moving average price of $491.49. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41. The firm has a market cap of $19.70 billion, a P/E ratio of 37.70 and a beta of 0.92.

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

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were paid a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is 83.46%.

Institutional Trading of Watsco

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Toronto Dominion Bank increased its position in shares of Watsco by 32.2% in the 3rd quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock worth $2,094,000 after purchasing an additional 1,038 shares during the last quarter. Citizens Financial Group Inc. RI increased its holdings in Watsco by 40.6% in 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 raised its stake in Watsco by 3,571.0% during the third quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock valued at $560,000 after buying an additional 1,107 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Watsco by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock worth $31,853,000 after buying an additional 1,074 shares during the last quarter. Finally, Markel Group Inc. grew its position in shares of Watsco by 0.9% in the 2nd quarter. Markel Group Inc. now owns 571,250 shares of the construction company’s stock worth $264,626,000 after acquiring an additional 5,000 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.