Wells Fargo & Company MN Has $229.64 Million Position in Watsco, Inc. (NYSE:WSO)

Wells Fargo & Company MN reduced its holdings in shares of Watsco, Inc. (NYSE:WSO) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 535,960 shares of the construction company’s stock after selling 7,994 shares during the period. Wells Fargo & Company MN owned 1.36% of Watsco worth $229,643,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sapient Capital LLC acquired a new stake in Watsco during the 4th quarter worth about $751,000. Benchmark Financial Wealth Advisors LLC acquired a new stake in shares of Watsco in the 4th quarter valued at about $536,000. Louisiana State Employees Retirement System acquired a new stake in shares of Watsco in the 4th quarter valued at about $4,070,000. Great Valley Advisor Group Inc. grew its stake in shares of Watsco by 145.6% in the 4th quarter. Great Valley Advisor Group Inc. now owns 2,982 shares of the construction company’s stock valued at $1,278,000 after buying an additional 1,768 shares during the period. Finally, Mackenzie Financial Corp acquired a new stake in shares of Watsco in the 4th quarter valued at about $2,516,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Robert W. Baird raised their target price on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Stephens reaffirmed an “overweight” rating and issued a $500.00 price target on shares of Watsco in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Watsco currently has a consensus rating of “Hold” and an average price target of $404.25.

Watsco Price Performance

Watsco stock opened at $485.64 on Wednesday. Watsco, Inc. has a 52 week low of $315.17 and a 52 week high of $488.70. The company’s 50 day moving average price is $439.20 and its two-hundred day moving average price is $412.95. The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. The stock has a market cap of $19.57 billion, a P/E ratio of 37.36 and a beta of 0.86.

Watsco (NYSE:WSO) last posted its earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.09). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the business earned $2.83 EPS. Watsco’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts predict that Watsco, Inc. will post 14.23 earnings per share for the current year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Friday, April 12th. This is a boost from Watsco’s previous quarterly dividend of $2.45. Watsco’s payout ratio is 83.08%.

Insider Buying and Selling

In related news, Director John Alexander Macdonald sold 5,334 shares of Watsco stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total value of $2,487,830.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other 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 transaction of $366,759.90. Following the completion of the transaction, the executive vice president now directly owns 1,770 shares in the company, valued at approximately $838,714.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Alexander Macdonald sold 5,334 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total transaction of $2,487,830.94. The disclosure for this sale can be found here. 12.86% of the stock is currently owned by insiders.

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.