Insider Selling: Watsco, Inc. (NYSE:WSO) EVP Sells $5,589,293.58 in Stock

Watsco, Inc. (NYSE:WSO) EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction dated Wednesday, December 18th. The shares were 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 SEC, which is available at this link.

Watsco Trading Down 0.3 %

Shares of WSO opened at $484.33 on Friday. The stock has a 50 day moving average of $513.33 and a 200 day moving average of $491.45. The company has a market capitalization of $19.56 billion, a price-to-earnings ratio of 37.43 and a beta of 0.92. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $571.41.

Watsco (NYSE:WSO) last announced its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.73 by ($0.51). The business had revenue of $2.16 billion for 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%. The company’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 business earned $4.35 earnings per share. As a group, equities research analysts predict that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.23%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio is 83.46%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WSO. Quarry LP purchased a new position in shares of Watsco during the 2nd quarter valued at $26,000. Tortoise Investment Management LLC lifted its holdings in Watsco by 76.2% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after purchasing an additional 32 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Watsco during the third quarter worth about $43,000. Massmutual Trust Co. FSB ADV boosted its position in Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after purchasing an additional 22 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of Watsco in the third quarter worth about $48,000. 89.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WSO shares. Northcoast Research started coverage on Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Robert W. Baird lowered their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th.

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.