Watsco, Inc. (NYSE:WSO) Shares Sold by Fiduciary Financial Group LLC

Fiduciary Financial Group LLC trimmed its stake in shares of Watsco, Inc. (NYSE:WSO) by 3.3% during the 4th quarter, Holdings Channel reports. The fund owned 800 shares of the construction company’s stock after selling 27 shares during the quarter. Fiduciary Financial Group LLC’s holdings in Watsco were worth $371,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its holdings in Watsco by 10.6% in the third quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock valued at $1,782,651,000 after purchasing an additional 346,470 shares during the period. International Assets Investment Management LLC grew its holdings in Watsco by 48,984.7% in the third quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock valued at $114,924,000 after purchasing an additional 233,167 shares during the period. Benjamin Edwards Inc. grew its holdings in Watsco by 2,128.1% in the third quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock valued at $52,880,000 after purchasing an additional 102,640 shares during the period. State Street Corp grew its holdings in Watsco by 5.9% in the third quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock valued at $577,350,000 after purchasing an additional 65,846 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Watsco by 9.9% in the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock valued at $345,783,000 after purchasing an additional 63,254 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 12.86% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

WSO has been the topic of several research analyst reports. Robert W. Baird dropped their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Northcoast Research started coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock.

Watsco Price Performance

NYSE WSO opened at $481.59 on Wednesday. The company has a market cap of $19.45 billion, a PE ratio of 37.22 and a beta of 0.95. The stock’s 50 day simple moving average is $510.65 and its 200-day simple moving average is $492.04. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41.

Watsco (NYSE:WSO) last released its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing the consensus estimate of $4.73 by ($0.51). The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $4.35 EPS. On average, equities research analysts anticipate that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently disclosed 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 is Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.24%. Watsco’s payout ratio is 83.46%.

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.