Watsco, Inc. (NYSE:WSO) EVP Sells $5,589,293.58 in Stock

Watsco, Inc. (NYSE:WSO) EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Watsco Price Performance

NYSE WSO opened at $484.33 on Friday. Watsco, Inc. has a one year low of $373.33 and a one year high of $571.41. The firm has a market cap of $19.56 billion, a P/E ratio of 37.43 and a beta of 0.92. The stock’s 50-day moving average is $513.33 and its 200-day moving average is $491.45.

Watsco (NYSE:WSO) last announced its earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). The company 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 business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $4.35 earnings per share. Equities analysts anticipate that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Wednesday, October 16th. Watsco’s payout ratio is presently 83.46%.

Institutional Trading of Watsco

Several hedge funds and other institutional investors have recently modified their holdings of WSO. Retirement Systems of Alabama grew its stake in shares of Watsco by 7.5% during the 3rd quarter. Retirement Systems of Alabama now owns 54,408 shares of the construction company’s stock worth $26,762,000 after acquiring an additional 3,813 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in Watsco in the third quarter valued at $1,332,000. Franklin Resources Inc. increased its stake in Watsco by 5.6% in the 3rd quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock valued at $25,645,000 after buying an additional 2,738 shares during the last quarter. Tidal Investments LLC increased its stake in Watsco by 3.1% in the 3rd quarter. Tidal Investments LLC now owns 2,269 shares of the construction company’s stock valued at $1,116,000 after buying an additional 69 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its position in Watsco by 1.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,088 shares of the construction company’s stock worth $3,978,000 after buying an additional 107 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on WSO. Northcoast Research assumed coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Robert W. Baird reduced their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th.

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.