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 (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.
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