Watsco, Inc. (NYSE:WSO) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC trimmed its holdings in Watsco, Inc. (NYSE:WSO) by 11.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,032 shares of the construction company’s stock after selling 521 shares during the period. Gateway Investment Advisers LLC’s holdings in Watsco were worth $1,911,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of Watsco in the 2nd quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new position in shares of Watsco in the 3rd quarter worth about $43,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of 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 buying an additional 22 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Watsco during the 3rd quarter valued at about $48,000. Finally, MCF Advisors LLC raised its holdings in shares of Watsco by 27.8% during the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after buying an additional 25 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Watsco

In other 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 value of $5,589,293.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.86% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Robert W. Baird dropped their target price on 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 assumed coverage on Watsco in a report on Friday. They set a “market perform” rating on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $488.33.

Watsco Stock Up 1.2 %

Shares of NYSE WSO opened at $496.92 on Friday. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The business has a 50 day moving average price of $508.48 and a two-hundred day moving average price of $492.31. The firm has a market cap of $20.07 billion, a PE ratio of 38.40 and a beta of 0.95.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $2.24 billion. During the same quarter last year, the business earned $4.35 EPS. Watsco’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts anticipate that Watsco, Inc. will post 12.97 earnings per share for the current year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a $2.70 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.17%. Watsco’s payout ratio is 83.46%.

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.