Riverbridge Partners LLC Sells 7,922 Shares of Watsco, Inc. (NYSE:WSO)

Riverbridge Partners LLC trimmed its position in Watsco, Inc. (NYSE:WSO) by 6.5% in the 4th quarter, Holdings Channel reports. The firm owned 113,472 shares of the construction company’s stock after selling 7,922 shares during the quarter. Riverbridge Partners LLC’s holdings in Watsco were worth $53,773,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Watsco during the 2nd quarter worth $26,000. Ashton Thomas Securities LLC bought a new stake in Watsco during the third quarter worth about $43,000. Massmutual Trust Co. FSB ADV lifted its position in Watsco by 30.6% in the 3rd 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. Brooklyn Investment Group purchased a new stake in shares of Watsco in the 3rd quarter valued at $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 buying an additional 25 shares during the period. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Stock Performance

Shares of NYSE:WSO opened at $505.84 on Thursday. The firm has a market capitalization of $20.43 billion, a P/E ratio of 39.09 and a beta of 0.95. The stock has a 50 day moving average price of $506.37 and a 200-day moving average price of $492.88. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41.

Watsco (NYSE:WSO) last posted its quarterly earnings data 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 firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the company posted $4.35 EPS. Watsco’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities analysts forecast that Watsco, Inc. will post 13.03 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $2.70 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.14%. Watsco’s dividend payout ratio is currently 83.46%.

Insider Activity

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction 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 filing with the SEC, which is available through this link. Corporate insiders own 12.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on WSO. Robert W. Baird lowered their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Northcoast Research initiated coverage on Watsco in a report on Friday, November 22nd. They set a “neutral” rating for the company. Finally, Raymond James assumed coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $488.33.

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.