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 company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Watsco Price Performance

Shares of WSO stock opened at $487.89 on Thursday. The company has a market cap of $19.70 billion, a price-to-earnings ratio of 37.70 and a beta of 0.92. The firm has a fifty 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.

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

Watsco Announces Dividend

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

Hedge Funds Weigh In On Watsco

Several institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Watsco in the second quarter worth about $26,000. Tortoise Investment Management LLC increased its position in shares of Watsco by 76.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after purchasing an additional 32 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Watsco during the 3rd quarter valued at $43,000. Massmutual Trust Co. FSB ADV lifted its position in Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after buying an additional 22 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in Watsco during the third quarter valued at $48,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

WSO has been the subject of a number of analyst reports. Robert W. Baird decreased their target price 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 assumed coverage on Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company.

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.