Vestcor Inc Decreases Position in Watsco, Inc. (NYSE:WSO)

Vestcor Inc decreased its holdings in Watsco, Inc. (NYSE:WSO) by 76.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,396 shares of the construction company’s stock after selling 7,635 shares during the period. Vestcor Inc’s holdings in Watsco were worth $1,135,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Rialto Wealth Management LLC acquired a new position in Watsco during the 4th quarter worth $31,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Watsco in the 4th quarter valued at about $36,000. Quarry LP grew its position in shares of Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after buying an additional 33 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Watsco during the third quarter worth approximately $48,000. Finally, Golden State Wealth Management LLC acquired a new stake in Watsco in the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

Shares of NYSE:WSO opened at $508.47 on Friday. Watsco, Inc. has a 12 month low of $396.82 and a 12 month high of $571.42. The firm has a market capitalization of $20.54 billion, a P/E ratio of 38.38 and a beta of 0.92. The company’s fifty day moving average price is $489.58 and its 200 day moving average price is $495.15.

Watsco (NYSE:WSO) last posted its earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. On average, sell-side analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is currently 81.51%.

Insider Transactions at Watsco

In other Watsco 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 transaction of $5,589,293.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 12.86% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on WSO shares. Loop Capital boosted their price target on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a report on Thursday, February 27th. Northcoast Research initiated coverage on shares of Watsco in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Robert W. Baird raised their price target on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Raymond James started coverage on Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average 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.