Sanctuary Advisors LLC Sells 62 Shares of Watsco, Inc. (NYSE:WSO)

Sanctuary Advisors LLC trimmed its position in Watsco, Inc. (NYSE:WSO) by 0.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,026 shares of the construction company’s stock after selling 62 shares during the period. Sanctuary Advisors LLC’s holdings in Watsco were worth $3,887,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WSO. Wingate Wealth Advisors Inc. bought a new stake in Watsco in the 4th quarter valued at about $36,000. Ashton Thomas Securities LLC bought a new stake in Watsco in the 3rd quarter valued at about $43,000. Quarry LP increased its position in Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after buying an additional 33 shares in the last quarter. Brooklyn Investment Group bought a new stake in Watsco in the 3rd quarter valued at about $48,000. Finally, Golden State Wealth Management LLC bought a new stake in Watsco in the 4th quarter valued at about $50,000. 89.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.86% of the stock is currently owned by corporate insiders.

Watsco Stock Performance

WSO stock opened at $498.12 on Friday. The company has a market capitalization of $20.11 billion, a P/E ratio of 37.59 and a beta of 0.95. Watsco, Inc. has a 52-week low of $380.58 and a 52-week high of $571.41. The business has a 50-day simple moving average of $484.75 and a two-hundred day simple moving average of $492.16.

Watsco (NYSE:WSO) last announced its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. As a group, sell-side analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were given a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.17%. Watsco’s payout ratio is currently 81.51%.

Wall Street Analysts Forecast Growth

WSO has been the subject of a number of research analyst reports. Raymond James assumed coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Robert W. Baird lifted their price target on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Northcoast Research assumed coverage on Watsco in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $495.00.

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.