Watsco, Inc. (NYSE:WSO) Shares Sold by Vestcor Inc

Vestcor Inc reduced its position in Watsco, Inc. (NYSE:WSO) by 76.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,396 shares of the construction company’s stock after selling 7,635 shares during the quarter. Vestcor Inc’s holdings in Watsco were worth $1,135,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of WSO. Assetmark Inc. boosted its holdings in shares of Watsco by 6.4% in the third quarter. Assetmark Inc. now owns 612 shares of the construction company’s stock valued at $301,000 after acquiring an additional 37 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Watsco in the third quarter valued at about $962,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Watsco by 1.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock valued at $31,853,000 after purchasing an additional 1,074 shares in the last quarter. Metis Global Partners LLC acquired a new position in Watsco during the 3rd quarter worth approximately $212,000. Finally, CIBC Asset Management Inc raised its stake in shares of Watsco by 4.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,083 shares of the construction company’s stock worth $1,025,000 after buying an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Insider Transactions at Watsco

In related 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Loop Capital lifted their price target on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research note on Thursday, February 27th. Raymond James began coverage on shares of Watsco in a research note on Friday, January 17th. They set a “market perform” rating on the stock. Northcoast Research initiated coverage on shares of Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Robert W. Baird upped their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $486.25.

Watsco Stock Up 3.4 %

Shares of WSO stock opened at $508.47 on Friday. Watsco, Inc. has a fifty-two week low of $396.82 and a fifty-two week high of $571.42. The business has a fifty day simple moving average of $489.58 and a 200-day simple moving average of $495.15. The stock has a market cap of $20.54 billion, a P/E ratio of 38.38 and a beta of 0.92.

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

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is 81.51%.

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.