Everence Capital Management Inc. Acquires New Shares in Watsco, Inc. (NYSE:WSO)

Everence Capital Management Inc. bought a new position in Watsco, Inc. (NYSE:WSO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 940 shares of the construction company’s stock, valued at approximately $445,000.

A number of other hedge funds also recently added to or reduced their stakes in WSO. GAMMA Investing LLC raised its holdings in shares of Watsco by 8.8% during the fourth quarter. GAMMA Investing LLC now owns 534 shares of the construction company’s stock valued at $253,000 after buying an additional 43 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Watsco by 9.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company’s stock worth $228,263,000 after acquiring an additional 41,845 shares during the period. Retirement Systems of Alabama grew its stake in shares of Watsco by 7.5% in the third quarter. Retirement Systems of Alabama now owns 54,408 shares of the construction company’s stock worth $26,762,000 after purchasing an additional 3,813 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of Watsco during the third quarter valued at $1,332,000. Finally, Franklin Resources Inc. raised its stake in shares of Watsco by 5.6% during the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock valued at $25,645,000 after purchasing an additional 2,738 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Insider Activity

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.86% of the stock is currently owned by company insiders.

Watsco Trading Up 1.5 %

Shares of Watsco stock opened at $475.74 on Monday. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41. The company’s 50-day moving average price is $511.51 and its two-hundred day moving average price is $492.24. The stock has a market cap of $19.21 billion, a PE ratio of 36.77 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 for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.35 earnings per share. On average, equities analysts predict that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, January 17th. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Robert W. Baird decreased their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Northcoast Research initiated coverage on Watsco in a report on Friday, November 22nd. They set a “neutral” rating on the stock.

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.