Watsco, Inc. (NYSE:WSO) Shares Sold by Fenimore Asset Management Inc

Fenimore Asset Management Inc decreased its stake in shares of Watsco, Inc. (NYSE:WSO) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,180 shares of the construction company’s stock after selling 325 shares during the period. Fenimore Asset Management Inc owned 0.14% of Watsco worth $27,571,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in WSO. Toronto Dominion Bank increased its position in Watsco by 32.2% during the 3rd quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock worth $2,094,000 after purchasing an additional 1,038 shares in the last quarter. Citizens Financial Group Inc. RI grew its holdings in shares of Watsco by 40.6% during the third quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock worth $1,582,000 after buying an additional 929 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Watsco by 3,571.0% during the third quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock worth $560,000 after buying an additional 1,107 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Watsco by 1.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock valued at $31,853,000 after buying an additional 1,074 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Watsco by 5.6% during the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock valued at $25,645,000 after buying an additional 2,738 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Down 0.6 %

Shares of WSO opened at $494.93 on Friday. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The company’s fifty day moving average is $505.31 and its two-hundred day moving average is $493.00. The firm has a market cap of $19.99 billion, a PE ratio of 38.25 and a beta of 0.95.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. Watsco’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.35 EPS. As a group, equities research analysts anticipate that Watsco, Inc. will post 13.03 earnings per share for the current year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, January 17th. Watsco’s dividend payout ratio is currently 83.46%.

Insider Transactions at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 12.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Raymond James began coverage on shares of Watsco in a research note on Friday, January 17th. They issued a “market perform” rating for the company. Northcoast Research assumed coverage on Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Robert W. Baird decreased their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $488.33.

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.