Watsco, Inc. (NYSE:WSO) Shares Purchased by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. raised its stake in Watsco, Inc. (NYSE:WSO) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,994 shares of the construction company’s stock after buying an additional 3,339 shares during the quarter. Royal London Asset Management Ltd. owned about 0.08% of Watsco worth $12,852,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. boosted its holdings in Watsco by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 44,737 shares of the construction company’s stock valued at $19,168,000 after acquiring an additional 1,650 shares during the period. Goldman Sachs Group Inc. increased its stake in Watsco by 12.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 255,062 shares of the construction company’s stock worth $109,287,000 after buying an additional 28,047 shares during the period. Sapient Capital LLC acquired a new stake in Watsco during the 4th quarter worth approximately $751,000. Benchmark Financial Wealth Advisors LLC acquired a new stake in Watsco during the 4th quarter worth approximately $536,000. Finally, Louisiana State Employees Retirement System purchased a new position in Watsco in the 4th quarter valued at approximately $4,070,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

Watsco stock traded down $7.42 during midday trading on Friday, reaching $477.99. The company’s stock had a trading volume of 231,015 shares, compared to its average volume of 223,821. 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, Inc. has a fifty-two week low of $337.58 and a fifty-two week high of $491.90. The firm has a market capitalization of $19.26 billion, a PE ratio of 36.77 and a beta of 0.88. The stock’s 50 day simple moving average is $456.84 and its 200 day simple moving average is $424.20.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.59 billion. Watsco had a net margin of 7.03% and a return on equity of 19.26%. Watsco’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.83 earnings per share. On average, equities research analysts forecast that Watsco, Inc. will post 14.26 earnings per share for the current year.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were given a $2.70 dividend. The ex-dividend date was Friday, April 12th. This is a positive change from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a dividend yield of 2.26%. Watsco’s dividend payout ratio is currently 83.08%.

Insider Transactions at Watsco

In other Watsco news, Director John Alexander Macdonald sold 5,334 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $466.41, for a total transaction of $2,487,830.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Watsco news, EVP Barry S. Logan sold 774 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $473.85, for a total value of $366,759.90. Following the completion of 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 available at this hyperlink. Also, Director John Alexander Macdonald sold 5,334 shares of the stock in a transaction on Thursday, May 9th. The stock was 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 12.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WSO shares. Robert W. Baird lifted their price objective on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Stephens reiterated an “overweight” rating and issued a $500.00 price target on shares of Watsco in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Watsco presently has a consensus rating of “Hold” and an average price target of $404.25.

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.