SageView Advisory Group LLC Acquires Shares of 810 Watsco, Inc. (NYSE:WSO)

SageView Advisory Group LLC bought a new position in shares of Watsco, Inc. (NYSE:WSO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 810 shares of the construction company’s stock, valued at approximately $321,000.

Several other large investors have also made changes to their positions in WSO. Wetzel Investment Advisors Inc. bought a new stake in Watsco during the 4th quarter worth about $25,000. Contravisory Investment Management Inc. bought a new stake in shares of Watsco during the fourth quarter worth approximately $26,000. Cullen Frost Bankers Inc. acquired a new position in Watsco in the fourth quarter valued at approximately $28,000. Rise Advisors LLC bought a new position in Watsco in the fourth quarter valued at approximately $30,000. Finally, BKM Wealth Management LLC acquired a new stake in Watsco during the 4th quarter worth $32,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

Shares of Watsco stock opened at $491.01 on Thursday. Watsco, Inc. has a 12 month low of $337.58 and a 12 month high of $493.65. The company has a current ratio of 2.92, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $19.79 billion, a PE ratio of 37.77 and a beta of 0.88. The stock’s fifty day simple moving average is $460.11 and its 200 day simple moving average is $426.36.

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

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Friday, April 12th. This is a boost from Watsco’s previous quarterly dividend of $2.45. Watsco’s dividend payout ratio is 83.08%.

Insider Transactions at Watsco

In related news, EVP Barry S. Logan sold 774 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $473.85, for a total value of $366,759.90. Following the sale, the executive vice president now directly owns 1,770 shares of the company’s stock, valued at approximately $838,714.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Barry S. Logan sold 774 shares of Watsco 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 of the company’s stock, valued at approximately $838,714.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Alexander Macdonald sold 5,334 shares of the company’s stock in a transaction that occurred 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. 12.86% of the stock is owned by insiders.

Analyst Ratings Changes

WSO has been the topic of a number of analyst reports. Robert W. Baird increased their price target on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Stephens reissued an “overweight” rating and issued a $500.00 target price on shares of Watsco in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $404.25.

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.