Watsco Inc (WSO) Position Cut by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC cut its stake in Watsco Inc (NYSE:WSO) by 1.9% during the 4th quarter, HoldingsChannel reports. The fund owned 229,588 shares of the construction company’s stock after selling 4,498 shares during the period. Frontier Capital Management Co. LLC’s holdings in Watsco were worth $39,039,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its holdings in Watsco by 9.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 210,733 shares of the construction company’s stock valued at $35,834,000 after acquiring an additional 18,001 shares in the last quarter. Bank of Montreal Can raised its holdings in Watsco by 132.1% in the fourth quarter. Bank of Montreal Can now owns 6,194 shares of the construction company’s stock valued at $1,053,000 after acquiring an additional 3,525 shares in the last quarter. Wendell David Associates Inc. raised its holdings in Watsco by 9.0% in the fourth quarter. Wendell David Associates Inc. now owns 19,520 shares of the construction company’s stock valued at $3,319,000 after acquiring an additional 1,605 shares in the last quarter. Pennsylvania Trust Co raised its holdings in Watsco by 1.6% in the fourth quarter. Pennsylvania Trust Co now owns 30,127 shares of the construction company’s stock valued at $5,122,000 after acquiring an additional 463 shares in the last quarter. Finally, Bright Rock Capital Management LLC acquired a new stake in Watsco in the fourth quarter valued at $1,360,000. 82.40% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on WSO shares. Zacks Investment Research cut shares of Watsco from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Morgan Stanley increased their target price on shares of Watsco from $151.00 to $156.00 and gave the stock an “underweight” rating in a report on Thursday, October 26th. Finally, KeyCorp reissued a “buy” rating on shares of Watsco in a report on Friday, November 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $160.40.

In other Watsco news, SVP Barry S. Logan sold 3,246 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $164.30, for a total transaction of $533,317.80. Following the sale, the senior vice president now directly owns 15,800 shares of the company’s stock, valued at $2,595,940. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.93% of the stock is currently owned by corporate insiders.

Shares of Watsco Inc (NYSE WSO) opened at $175.87 on Friday. The firm has a market cap of $6,207.50, a price-to-earnings ratio of 32.51 and a beta of 0.83. Watsco Inc has a twelve month low of $134.08 and a twelve month high of $176.57. The company has a current ratio of 3.13, a quick ratio of 1.42 and a debt-to-equity ratio of 0.21.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, October 25th. The construction company reported $1.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.95 by ($0.13). The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.26 billion. Watsco had a return on equity of 15.00% and a net margin of 4.46%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the company posted $1.78 earnings per share. sell-side analysts anticipate that Watsco Inc will post 5.58 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Tuesday, January 16th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, January 12th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.84%. Watsco’s dividend payout ratio (DPR) is 92.42%.

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Watsco Company Profile

Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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