Watsco, Inc. (NYSE:WSO) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its position in shares of Watsco, Inc. (NYSE:WSO) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,994 shares of the construction company’s stock after selling 134 shares during the quarter. Amalgamated Bank’s holdings in Watsco were worth $8,053,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WSO. FMR LLC boosted its stake in shares of Watsco by 10.6% during the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after acquiring an additional 346,470 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Watsco by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock valued at $616,357,000 after purchasing an additional 62,041 shares in the last quarter. State Street Corp raised its holdings in Watsco by 5.9% in the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock worth $577,350,000 after purchasing an additional 65,846 shares during the period. Geode Capital Management LLC boosted its position in Watsco by 9.9% during the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock worth $345,783,000 after purchasing an additional 63,254 shares in the last quarter. Finally, Markel Group Inc. grew its holdings in Watsco by 2.0% in the third quarter. Markel Group Inc. now owns 582,500 shares of the construction company’s stock valued at $286,520,000 after purchasing an additional 11,250 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WSO. Raymond James assumed coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating for the company. Northcoast Research started coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Robert W. Baird increased their price objective on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $495.00.

Watsco Price Performance

Shares of NYSE:WSO opened at $498.19 on Thursday. Watsco, Inc. has a 1 year low of $383.06 and a 1 year high of $571.41. The firm has a market capitalization of $20.12 billion, a PE ratio of 37.60 and a beta of 0.95. The business’s 50 day moving average price is $484.56 and its 200-day moving average price is $492.99.

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

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were given a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.17%. Watsco’s payout ratio is presently 81.51%.

Insider Activity 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 transaction of $5,589,293.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.86% of the stock is owned by corporate insiders.

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.