Geneva Capital Management LLC Reduces Stock Position in Watsco, Inc. (NYSE:WSO)

Geneva Capital Management LLC lessened its stake in Watsco, Inc. (NYSE:WSO) by 1.5% during the first quarter, HoldingsChannel.com reports. The firm owned 61,127 shares of the construction company’s stock after selling 924 shares during the period. Geneva Capital Management LLC’s holdings in Watsco were worth $26,405,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. acquired a new stake in shares of Watsco during the 4th quarter worth approximately $25,000. First PREMIER Bank bought a new stake in Watsco during the 1st quarter valued at $25,000. Contravisory Investment Management Inc. acquired a new position in Watsco during the 4th quarter worth $26,000. Cullen Frost Bankers Inc. bought a new stake in shares of Watsco during the fourth quarter valued at about $28,000. Finally, Rise Advisors LLC acquired a new stake in Watsco in the fourth quarter worth about $30,000. Institutional investors own 89.71% of the company’s stock.

Insiders Place Their Bets

In other news, Director John Alexander Macdonald sold 5,334 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total transaction of $2,487,830.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Barry S. Logan sold 774 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $473.85, for a total value of $366,759.90. Following the transaction, the executive vice president now owns 1,770 shares in the company, valued at approximately $838,714.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Alexander Macdonald sold 5,334 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Corporate insiders own 12.86% of the company’s stock.

Watsco Price Performance

NYSE:WSO traded up $3.75 during trading hours on Thursday, reaching $489.65. 325,515 shares of the company’s stock were exchanged, compared to its average volume of 317,679. The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $19.73 billion, a P/E ratio of 37.38 and a beta of 0.88. Watsco, Inc. has a 12 month low of $337.58 and a 12 month high of $501.00. The business’s 50-day simple moving average is $475.58 and its two-hundred day simple moving average is $432.88.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $2.17 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 last year, the company posted $2.83 EPS. Sell-side analysts expect that Watsco, Inc. will post 14.26 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Tuesday, July 16th will be paid a $2.70 dividend. The ex-dividend date is Tuesday, July 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.21%. Watsco’s dividend payout ratio is currently 83.08%.

Analyst Ratings Changes

WSO has been the subject of several recent analyst reports. Robert W. Baird increased their price objective on shares of Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Stephens reaffirmed an “overweight” rating and set a $500.00 price target on shares of Watsco in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $404.25.

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.