Gulf International Bank UK Ltd Sells 24 Shares of Watsco, Inc. (NYSE:WSO)

Gulf International Bank UK Ltd lessened its position in Watsco, Inc. (NYSE:WSO) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,617 shares of the construction company’s stock after selling 24 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Watsco were worth $1,240,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new position in shares of Watsco during the 4th quarter worth about $36,000. Ashton Thomas Securities LLC bought a new position in shares of Watsco during the 3rd quarter worth about $43,000. Quarry LP increased its holdings in shares of Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after purchasing an additional 33 shares during the period. Brooklyn Investment Group bought a new position in shares of Watsco during the 3rd quarter worth about $48,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Watsco during the 4th quarter worth about $50,000. Institutional investors own 89.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Loop Capital boosted their price objective on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a report on Thursday. Northcoast Research assumed coverage on shares of Watsco in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Robert W. Baird boosted their price objective on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Raymond James started coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating on the stock. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $486.25.

Insider Buying and Selling at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 12.86% of the company’s stock.

Watsco Stock Performance

Shares of Watsco stock opened at $503.80 on Friday. The firm’s 50-day simple moving average is $485.23 and its 200-day simple moving average is $493.42. Watsco, Inc. has a twelve month low of $388.47 and a twelve month high of $571.41. The firm has a market cap of $20.34 billion, a P/E ratio of 38.02 and a beta of 0.95.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. On average, equities analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.14%. Watsco’s dividend payout ratio (DPR) is presently 81.51%.

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.