Carnegie Investment Counsel Sells 134 Shares of Watsco, Inc. (NYSE:WSO)

Carnegie Investment Counsel lessened its position in Watsco, Inc. (NYSE:WSO) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,034 shares of the construction company’s stock after selling 134 shares during the period. Carnegie Investment Counsel’s holdings in Watsco were worth $16,128,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Quarry LP acquired a new position in shares of Watsco in the 2nd quarter valued at $26,000. Ashton Thomas Securities LLC bought a new position in Watsco during the third quarter worth about $43,000. Massmutual Trust Co. FSB ADV lifted its holdings in Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after acquiring an additional 22 shares in the last quarter. Brooklyn Investment Group acquired a new position in Watsco in the third quarter valued at about $48,000. Finally, MCF Advisors LLC increased its holdings in shares of Watsco by 27.8% in the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after acquiring an additional 25 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.86% of the company’s stock.

Wall Street Analyst Weigh In

WSO has been the topic of several recent analyst reports. Robert W. Baird cut their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Northcoast Research assumed coverage on shares of Watsco in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Raymond James assumed coverage on shares of Watsco in a report on Friday. They issued a “market perform” rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $488.33.

Watsco Price Performance

WSO stock opened at $490.84 on Friday. The stock has a market capitalization of $19.82 billion, a P/E ratio of 37.93 and a beta of 0.95. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The business has a 50-day moving average of $509.79 and a 200-day moving average of $492.09.

Watsco (NYSE:WSO) last released 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 firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.35 EPS. Equities analysts expect that Watsco, Inc. will post 12.97 EPS for the current year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Friday, January 17th. Watsco’s dividend payout ratio (DPR) is currently 83.46%.

Watsco 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.