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

Southernsun Asset Management LLC cut its holdings in shares of Watsco, Inc. (NYSE:WSO) by 17.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,778 shares of the construction company’s stock after selling 4,421 shares during the period. Watsco accounts for 1.0% of Southernsun Asset Management LLC’s investment portfolio, making the stock its 23rd largest holding. Southernsun Asset Management LLC’s holdings in Watsco were worth $8,903,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hartford Financial Management Inc. boosted its holdings in Watsco by 53.1% in the fourth quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock valued at $32,000 after purchasing an additional 26 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in shares of Watsco by 35.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company’s stock valued at $41,000 after buying an additional 28 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of Watsco by 53.8% in the 4th quarter. Lindbrook Capital LLC now owns 80 shares of the construction company’s stock valued at $34,000 after buying an additional 28 shares during the last quarter. Lincoln National Corp grew its position in shares of Watsco by 4.0% in the 4th quarter. Lincoln National Corp now owns 728 shares of the construction company’s stock valued at $312,000 after buying an additional 28 shares during the last quarter. Finally, Allworth Financial LP raised its stake in Watsco by 44.1% during the 4th quarter. Allworth Financial LP now owns 98 shares of the construction company’s stock worth $42,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Insider Activity

In other Watsco news, Director John Alexander Macdonald sold 5,334 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total transaction of $2,487,830.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Barry S. Logan sold 774 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $473.85, for a total value of $366,759.90. Following the sale, the executive vice president now owns 1,770 shares in the company, valued at approximately $838,714.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Alexander Macdonald sold 5,334 shares of Watsco stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $466.41, for a total value of $2,487,830.94. The disclosure for this sale can be found here. Insiders own 12.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WSO shares. Robert W. Baird raised their price objective on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Stephens reiterated an “overweight” rating and issued a $500.00 price target on shares of Watsco in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $404.25.

Watsco Stock Performance

NYSE:WSO traded down $3.66 during midday trading on Tuesday, reaching $459.50. The stock had a trading volume of 77,654 shares, compared to its average volume of 322,068. The stock has a market cap of $18.52 billion, a P/E ratio of 35.64 and a beta of 0.88. The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 12-month low of $337.58 and a 12-month high of $491.90. The firm has a fifty day simple moving average of $452.74 and a two-hundred day simple moving average of $421.45.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.83 earnings per share. On average, equities analysts expect that Watsco, Inc. will post 14.26 EPS for the current year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.35%. This is an increase from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date was Friday, April 12th. Watsco’s dividend payout ratio is 83.08%.

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.