Riverbridge Partners LLC Sells 7,922 Shares of Watsco, Inc. (NYSE:WSO)

Riverbridge Partners LLC reduced its position in shares of Watsco, Inc. (NYSE:WSO) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 113,472 shares of the construction company’s stock after selling 7,922 shares during the quarter. Riverbridge Partners LLC owned about 0.28% of Watsco worth $53,773,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. J. W. Coons Advisors LLC lifted its holdings in shares of Watsco by 0.7% in the 3rd quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock worth $1,475,000 after purchasing an additional 20 shares in the last quarter. My Legacy Advisors LLC increased its position in shares of Watsco by 3.2% during the fourth quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock worth $329,000 after acquiring an additional 21 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Watsco by 30.6% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after purchasing an additional 22 shares during the last quarter. CWM LLC increased its holdings in Watsco by 2.6% during the 3rd quarter. CWM LLC now owns 952 shares of the construction company’s stock worth $468,000 after purchasing an additional 24 shares in the last quarter. Finally, MCF Advisors LLC raised its stake in shares of Watsco by 27.8% in the third 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. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

NYSE WSO opened at $505.84 on Thursday. The stock has a market capitalization of $20.43 billion, a price-to-earnings ratio of 39.09 and a beta of 0.95. The business’s fifty day moving average is $506.37 and its 200-day moving average is $492.88. Watsco, Inc. has a one year low of $373.33 and a one year high of $571.41.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 EPS 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%. Watsco’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.35 EPS. Research analysts expect that Watsco, Inc. will post 13.03 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.14%. The ex-dividend date is Friday, January 17th. Watsco’s dividend payout ratio (DPR) is currently 83.46%.

Analyst Ratings Changes

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

Insider Activity at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 12.86% of the stock is currently owned by company insiders.

Watsco Company 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.