Watsco, Inc. (NYSE:WSO) EVP Barry S. Logan Sells 10,998 Shares of Stock

Watsco, Inc. (NYSE:WSO) EVP Barry S. Logan sold 10,998 shares of the company’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 legal filing with the SEC, which is accessible through this link.

Watsco Stock Performance

Watsco stock opened at $487.89 on Thursday. The business’s 50-day simple moving average is $513.30 and its 200-day simple moving average is $491.49. The firm has a market capitalization of $19.70 billion, a PE ratio of 37.70 and a beta of 0.92. Watsco, Inc. has a 52 week low of $373.33 and a 52 week 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 analysts’ consensus estimates of $4.73 by ($0.51). The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. Watsco’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.35 EPS. Research analysts forecast that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio is currently 83.46%.

Institutional Trading of Watsco

Several hedge funds have recently added to or reduced their stakes in WSO. FMR LLC increased its stake 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 in the last quarter. International Assets Investment Management LLC grew its holdings in shares of 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 worth $114,924,000 after purchasing an additional 233,167 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in Watsco by 2,128.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock worth $52,880,000 after purchasing an additional 102,640 shares in the last quarter. State Street Corp boosted its holdings in shares of Watsco by 5.9% during the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock valued at $577,350,000 after buying an additional 65,846 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Watsco by 9.9% during the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock valued at $345,783,000 after acquiring an additional 63,254 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on WSO shares. Robert W. Baird reduced their price target 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 began coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock.

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.