Watsco, Inc. (NYSE:WSO) Shares Sold by Spectrum Wealth Counsel LLC

Spectrum Wealth Counsel LLC lowered its holdings in Watsco, Inc. (NYSE:WSO) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,583 shares of the construction company’s stock after selling 83 shares during the quarter. Spectrum Wealth Counsel LLC’s holdings in Watsco were worth $5,489,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Toronto Dominion Bank raised its stake in shares of 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 buying an additional 1,038 shares during the last quarter. Citizens Financial Group Inc. RI raised its stake in shares of Watsco by 40.6% during the 3rd 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 during the last quarter. Larson Financial Group LLC raised its stake in shares of Watsco by 3,571.0% during the 3rd 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 during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Watsco by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock worth $31,853,000 after buying an additional 1,074 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Watsco by 5.6% during the 3rd quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock worth $25,645,000 after buying an additional 2,738 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Insider Buying and Selling at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. 12.86% of the stock is currently owned by corporate insiders.

Watsco Stock Performance

Watsco stock opened at $503.80 on Friday. The stock’s 50 day moving average price is $485.23 and its 200 day moving average price is $493.29. The firm has a market capitalization of $20.34 billion, a PE ratio of 38.02 and a beta of 0.95. Watsco, Inc. has a one year low of $388.47 and a one year high of $571.41.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.13 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. On average, analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is 81.51%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WSO. Loop Capital lifted their price objective on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday. Northcoast Research started coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Raymond James started coverage on Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Finally, Robert W. Baird lifted their price target on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Watsco currently has a consensus rating of “Hold” and an average target price of $486.25.

Watsco 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.