Massachusetts Financial Services Co. MA Sells 791 Shares of Watsco, Inc. (NYSE:WSO)

Massachusetts Financial Services Co. MA reduced its stake in Watsco, Inc. (NYSE:WSOFree Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,205 shares of the construction company’s stock after selling 791 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.08% of Watsco worth $13,799,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WSO. Fifth Third Bancorp raised its holdings in Watsco by 7.3% in the 3rd quarter. Fifth Third Bancorp now owns 1,267 shares of the construction company’s stock worth $479,000 after purchasing an additional 86 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of Watsco by 2.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 2,589 shares of the construction company’s stock valued at $978,000 after buying an additional 71 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Watsco by 3.1% during the 3rd quarter. M&T Bank Corp now owns 1,989 shares of the construction company’s stock valued at $751,000 after buying an additional 60 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Watsco by 0.4% in the 3rd quarter. Principal Financial Group Inc. now owns 142,955 shares of the construction company’s stock worth $53,997,000 after buying an additional 568 shares during the period. Finally, Girard Partners LTD. increased its stake in Watsco by 4.6% in the 3rd quarter. Girard Partners LTD. now owns 4,273 shares of the construction company’s stock worth $1,614,000 after buying an additional 189 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Watsco news, Director John Alexander Macdonald sold 5,334 shares of Watsco stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total value of $2,487,830.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Barry S. Logan sold 774 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $473.85, for a total transaction of $366,759.90. Following the transaction, the executive vice president now directly owns 1,770 shares in the company, valued at approximately $838,714.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Alexander Macdonald sold 5,334 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were 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. Corporate insiders own 13.30% of the company’s stock.

Watsco Stock Performance

WSO opened at $477.62 on Friday. The stock has a market capitalization of $18.87 billion, a price-to-earnings ratio of 36.74 and a beta of 0.86. The company has a fifty day moving average of $435.73 and a 200 day moving average of $410.89. Watsco, Inc. has a fifty-two week low of $315.17 and a fifty-two week high of $488.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.92.

Watsco (NYSE:WSOGet Free Report) last posted its earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.09). The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Watsco had a net margin of 7.03% and a return on equity of 19.26%. The business’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $2.83 earnings per share. As a group, sell-side analysts forecast that Watsco, Inc. will post 14.23 earnings per share for the current fiscal year.

Watsco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were paid a $2.70 dividend. This is a boost from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, April 12th. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Wall Street Analyst Weigh In

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

Check Out Our Latest Stock Report on Watsco

Watsco Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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