Heritage Family Offices LLP Sells 60 Shares of Watsco, Inc. (NYSE:WSO)

Heritage Family Offices LLP lowered its stake in shares of Watsco, Inc. (NYSE:WSO) by 6.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 898 shares of the construction company’s stock after selling 60 shares during the quarter. Heritage Family Offices LLP’s holdings in Watsco were worth $425,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Watsco by 19.0% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 1,299 shares of the construction company’s stock valued at $616,000 after buying an additional 207 shares in the last quarter. Fulcrum Capital LLC lifted its position in Watsco by 8.4% during the fourth quarter. Fulcrum Capital LLC now owns 671 shares of the construction company’s stock valued at $318,000 after acquiring an additional 52 shares during the last quarter. First Hawaiian Bank boosted its stake in Watsco by 1.0% in the fourth quarter. First Hawaiian Bank now owns 4,435 shares of the construction company’s stock valued at $2,102,000 after acquiring an additional 46 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Watsco in the fourth quarter worth $445,000. Finally, GAMMA Investing LLC grew its holdings in Watsco by 8.8% in the fourth quarter. GAMMA Investing LLC now owns 534 shares of the construction company’s stock worth $253,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Trading Down 0.6 %

NYSE WSO opened at $479.63 on Thursday. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $571.41. The company has a fifty day simple moving average of $509.79 and a two-hundred day simple moving average of $492.09. The stock has a market cap of $19.37 billion, a P/E ratio of 37.07 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 (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter last year, the business earned $4.35 EPS. The business’s revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that Watsco, Inc. will post 12.97 earnings per share for the current year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Friday, January 17th. Watsco’s dividend payout ratio (DPR) is 83.46%.

Insider Buying and Selling

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.86% of the stock is owned by corporate insiders.

Analyst Ratings Changes

WSO has been the subject of several analyst reports. Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They set a “neutral” rating for the company. Robert W. Baird decreased their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th.

About Watsco

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.