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

Handelsinvest Investeringsforvaltning lessened its stake in Watsco, Inc. (NYSE:WSO) by 34.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 942 shares of the construction company’s stock after selling 489 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Watsco were worth $407,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of WSO. LPL Financial LLC lifted its holdings in shares of Watsco by 10.3% in the 3rd quarter. LPL Financial LLC now owns 14,848 shares of the construction company’s stock valued at $5,609,000 after buying an additional 1,390 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Watsco by 51.8% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,046 shares of the construction company’s stock valued at $395,000 after purchasing an additional 357 shares in the last quarter. Glenmede Trust Co. NA purchased a new position in shares of Watsco in the 3rd quarter valued at about $205,000. Advisors Asset Management Inc. increased its stake in shares of Watsco by 6.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 16,906 shares of the construction company’s stock valued at $6,386,000 after purchasing an additional 1,092 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its stake in shares of Watsco by 11.4% in the 3rd quarter. Axxcess Wealth Management LLC now owns 779 shares of the construction company’s stock valued at $294,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

NYSE:WSO opened at $481.11 on Thursday. Watsco, Inc. has a 12 month low of $337.58 and a 12 month high of $493.65. The stock has a 50 day moving average of $472.11 and a two-hundred day moving average of $430.86. The company has a current ratio of 2.92, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The firm has a market cap of $19.39 billion, a P/E ratio of 37.01 and a beta of 0.88.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.09). The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. Watsco’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $2.83 earnings per share. On average, analysts expect that Watsco, Inc. will post 14.26 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th will be given a $2.70 dividend. The ex-dividend date is Tuesday, July 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.24%. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Insider Activity

In other news, Director John Alexander Macdonald sold 5,334 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $466.41, for a total value of $2,487,830.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Barry S. Logan sold 774 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $473.85, for a total value of $366,759.90. Following the transaction, the executive vice president now directly owns 1,770 shares in the company, valued at $838,714.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Alexander Macdonald sold 5,334 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $466.41, for a total value of $2,487,830.94. The disclosure for this sale can be found here. Company insiders own 12.86% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WSO. Robert W. Baird lifted their price target on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Stephens restated an “overweight” rating and issued a $500.00 price target on shares of Watsco in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $404.25.

About Watsco

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.