Park Avenue Securities LLC Has $755,000 Stake in Watsco, Inc. (NYSE:WSO)

Park Avenue Securities LLC trimmed its holdings in Watsco, Inc. (NYSE:WSO) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,594 shares of the construction company’s stock after selling 23 shares during the period. Park Avenue Securities LLC’s holdings in Watsco were worth $755,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new stake in Watsco during the 2nd quarter worth approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in Watsco during the 3rd quarter worth approximately $43,000. Massmutual Trust Co. FSB ADV lifted its holdings in Watsco by 30.6% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after purchasing an additional 22 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Watsco during the 3rd quarter worth approximately $48,000. Finally, MCF Advisors LLC lifted its holdings in Watsco by 27.8% during the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after purchasing an additional 25 shares during the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Price Performance

Shares of Watsco stock opened at $505.29 on Wednesday. Watsco, Inc. has a one year low of $373.33 and a one year high of $571.41. The stock’s 50-day moving average is $507.11 and its 200 day moving average is $492.78. The firm has a market cap of $20.40 billion, a price-to-earnings ratio of 39.05 and a beta of 0.95.

Watsco (NYSE:WSO) last announced its earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the company earned $4.35 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, sell-side analysts expect that Watsco, Inc. will post 13.04 EPS for the current fiscal year.

Watsco Announces Dividend

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. Raymond James initiated coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating for the company. Robert W. Baird dropped their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Northcoast Research began coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $488.33.

Insider Activity at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.86% of the stock is owned by corporate insiders.

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.