Frontier Capital Management Co. LLC Decreases Holdings in Watsco Inc (WSO)

Frontier Capital Management Co. LLC reduced its holdings in shares of Watsco Inc (NYSE:WSO) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 229,588 shares of the construction company’s stock after selling 4,498 shares during the quarter. Frontier Capital Management Co. LLC owned 0.64% of Watsco worth $39,039,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WSO. San Francisco Sentry Investment Group CA purchased a new position in shares of Watsco in the second quarter valued at $125,000. CIBC Asset Management Inc purchased a new position in shares of Watsco in the third quarter valued at $206,000. Quantbot Technologies LP purchased a new position in shares of Watsco in the third quarter valued at $207,000. Janney Montgomery Scott LLC purchased a new position in shares of Watsco in the third quarter valued at $215,000. Finally, Commonwealth Equity Services Inc purchased a new position in shares of Watsco in the third quarter valued at $231,000. Institutional investors own 82.40% of the company’s stock.

Several brokerages have recently weighed in on WSO. Morgan Stanley upped their target price on shares of Watsco from $151.00 to $156.00 and gave the company an “underweight” rating in a research note on Thursday, October 26th. KeyCorp restated a “buy” rating on shares of Watsco in a research note on Friday, November 17th. Finally, Zacks Investment Research downgraded shares of Watsco from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $160.40.

Watsco Inc (NYSE:WSO) opened at $175.87 on Friday. The firm has a market cap of $6,207.50, a price-to-earnings ratio of 32.51 and a beta of 0.83. The company has a quick ratio of 1.42, a current ratio of 3.13 and a debt-to-equity ratio of 0.21. Watsco Inc has a 52 week low of $134.08 and a 52 week high of $176.57.

Watsco (NYSE:WSO) last announced its earnings results on Wednesday, October 25th. The construction company reported $1.82 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.13). The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Watsco had a net margin of 4.46% and a return on equity of 15.00%. Watsco’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company posted $1.78 earnings per share. analysts anticipate that Watsco Inc will post 5.58 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Tuesday, January 16th will be issued a $1.25 dividend. The ex-dividend date is Friday, January 12th. This represents a $5.00 annualized dividend and a yield of 2.84%. Watsco’s dividend payout ratio is presently 92.42%.

In related news, SVP Barry S. Logan sold 3,246 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $164.30, for a total value of $533,317.80. Following the sale, the senior vice president now directly owns 15,800 shares of the company’s stock, valued at $2,595,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 13.93% of the company’s stock.

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Watsco Company Profile

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.

Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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