Conestoga Capital Advisors LLC lowered its stake in shares of Watsco Inc (NYSE:WSO) by 19.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,644 shares of the construction company’s stock after selling 2,050 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Watsco were worth $1,470,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prudential Financial Inc. lifted its holdings in shares of Watsco by 0.4% in the 2nd quarter. Prudential Financial Inc. now owns 18,918 shares of the construction company’s stock worth $2,917,000 after buying an additional 66 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of Watsco by 1.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,096 shares of the construction company’s stock worth $1,403,000 after purchasing an additional 146 shares during the last quarter. Brookstone Capital Management lifted its stake in shares of Watsco by 17.1% during the 3rd quarter. Brookstone Capital Management now owns 2,155 shares of the construction company’s stock worth $347,000 after purchasing an additional 314 shares during the last quarter. Pennsylvania Trust Co lifted its stake in shares of Watsco by 1.6% during the 4th quarter. Pennsylvania Trust Co now owns 30,127 shares of the construction company’s stock worth $5,122,000 after purchasing an additional 463 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Watsco by 0.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,773 shares of the construction company’s stock worth $9,988,000 after purchasing an additional 469 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.
In other Watsco news, SVP Barry S. Logan sold 3,246 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $164.30, for a total transaction of $533,317.80. Following the completion of the sale, the senior vice president now owns 15,800 shares of the company’s stock, valued at $2,595,940. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 13.93% of the stock is owned by company insiders.
Watsco Inc (NYSE:WSO) traded up $1.67 during midday trading on Wednesday, hitting $166.60. The stock had a trading volume of 217,938 shares, compared to its average volume of 209,921. The stock has a market capitalization of $5,870.46, a P/E ratio of 28.77 and a beta of 0.87. Watsco Inc has a 1-year low of $134.08 and a 1-year high of $182.79. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.38 and a current ratio of 3.21.
Watsco (NYSE:WSO) last released its earnings results on Thursday, February 8th. The construction company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.10). Watsco had a net margin of 4.80% and a return on equity of 14.66%. The firm had revenue of $964.35 million during the quarter, compared to analysts’ expectations of $965.85 million. During the same quarter last year, the business earned $0.81 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. research analysts forecast that Watsco Inc will post 6.83 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Tuesday, January 16th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, January 12th. This represents a $5.00 dividend on an annualized basis and a yield of 3.00%. Watsco’s payout ratio is 86.36%.
Several research analysts recently issued reports on WSO shares. Zacks Investment Research raised Watsco from a “hold” rating to a “buy” rating and set a $197.00 target price on the stock in a research report on Monday, January 22nd. KeyCorp reissued a “buy” rating on shares of Watsco in a report on Friday, November 17th. Susquehanna Bancshares set a $195.00 price objective on Watsco and gave the company a “buy” rating in a report on Friday, February 9th. Stephens set a $169.00 target price on Watsco and gave the stock a “hold” rating in a report on Thursday, February 8th. Finally, JPMorgan Chase & Co. dropped their target price on Watsco from $180.00 to $169.00 and set a “neutral” rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $168.88.
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Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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