First Bank & Trust Lowers Stock Holdings in Watsco, Inc. (NYSE:WSO)

First Bank & Trust decreased its position in shares of Watsco, Inc. (NYSE:WSO) by 5.0% during the fourth quarter, HoldingsChannel reports. The firm owned 1,195 shares of the construction company’s stock after selling 63 shares during the period. First Bank & Trust’s holdings in Watsco were worth $566,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in WSO. Wingate Wealth Advisors Inc. purchased a new stake in Watsco during the fourth quarter valued at about $36,000. Ashton Thomas Securities LLC bought a new position in shares of Watsco during the third quarter valued at about $43,000. Quarry LP grew its stake in shares of Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after buying an additional 33 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Watsco during the third quarter valued at about $48,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Watsco during the fourth quarter valued at about $50,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Insider Buying and Selling at Watsco

In other 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.86% of the company’s stock.

Wall Street Analysts Forecast Growth

WSO has been the topic of a number of recent research reports. Robert W. Baird raised their price objective on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday. Raymond James initiated coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating on the stock. Finally, Northcoast Research assumed coverage on Watsco in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $495.00.

Watsco Price Performance

NYSE WSO opened at $511.11 on Thursday. The business’s 50-day moving average is $484.90 and its 200 day moving average is $491.75. The stock has a market capitalization of $20.64 billion, a PE ratio of 38.57 and a beta of 0.95. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a return on equity of 17.61% and a net margin of 7.04%. As a group, equities research analysts anticipate that Watsco, Inc. will post 14.5 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.11%. 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.