Illinois Municipal Retirement Fund Sells 3,177 Shares of Watsco, Inc. (NYSE:WSO)

Illinois Municipal Retirement Fund decreased its position in shares of Watsco, Inc. (NYSE:WSO) by 27.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 8,214 shares of the construction company’s stock after selling 3,177 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Watsco were worth $3,893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. FourThought Financial Partners LLC bought a new stake in shares of Watsco in the fourth quarter valued at about $285,000. Pine Valley Investments Ltd Liability Co boosted its holdings in Watsco by 4.1% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 904 shares of the construction company’s stock valued at $428,000 after purchasing an additional 36 shares during the period. BankPlus Trust Department bought a new stake in Watsco in the 4th quarter valued at about $232,000. Crestwood Advisors Group LLC increased its holdings in shares of Watsco by 18.5% during the fourth quarter. Crestwood Advisors Group LLC now owns 633 shares of the construction company’s stock worth $300,000 after purchasing an additional 99 shares during the period. Finally, J. W. Coons Advisors LLC increased its holdings in shares of Watsco by 2.5% during the fourth quarter. J. W. Coons Advisors LLC now owns 3,074 shares of the construction company’s stock worth $1,457,000 after purchasing an additional 75 shares during the period. Institutional investors own 89.71% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 12.86% of the company’s stock.

Watsco Price Performance

Shares of NYSE:WSO opened at $498.19 on Thursday. Watsco, Inc. has a 1 year low of $383.06 and a 1 year high of $571.41. The stock has a market capitalization of $20.12 billion, a price-to-earnings ratio of 37.60 and a beta of 0.95. The company’s 50 day simple moving average is $484.56 and its 200 day simple moving average is $492.99.

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 analysts’ consensus estimates of $2.13 by $0.24. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. As a group, analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.17%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is 81.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Raymond James started coverage on Watsco in a research report on Friday, January 17th. They set a “market perform” rating on the stock. Northcoast Research initiated coverage on Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Finally, Robert W. Baird raised their price target on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $495.00.

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.