Insider Selling: Watsco, Inc. (NYSE:WSO) EVP Sells 774 Shares of Stock

Watsco, Inc. (NYSE:WSO - Get Free Report) EVP Barry S. Logan sold 774 shares of the business's 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 completion of the sale, the executive vice president now 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 SEC, which is available through this hyperlink.

Watsco Stock Up 1.0 %

Shares of WSO traded up $4.99 during mid-day trading on Tuesday, reaching $484.45. The company had a trading volume of 289,607 shares, compared to its average volume of 342,183. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.92. The company has a market capitalization of $19.14 billion, a price-to-earnings ratio of 36.89 and a beta of 0.86. The firm has a 50-day moving average price of $429.28 and a 200 day moving average price of $407.61. Watsco, Inc. has a 52 week low of $315.17 and a 52 week high of $487.74.

Watsco (NYSE:WSO - Get Free Report) last released 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 company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the firm posted $2.83 earnings per share. The company's revenue was up .9% compared to the same quarter last year. On average, sell-side analysts forecast that Watsco, Inc. will post 14.26 EPS for the current year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were issued a dividend of $2.70 per share. This is a boost from Watsco's previous quarterly dividend of $2.45. The ex-dividend date was Friday, April 12th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.23%. Watsco's dividend payout ratio is presently 83.08%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WSO. Robert W. Baird raised their price objective 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 set a $500.00 price objective 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 issued a buy rating to the company. Based on data from MarketBeat, Watsco presently has a consensus rating of "Hold" and a consensus target price of $404.25.

Institutional Investors Weigh In On Watsco

Institutional investors and hedge funds have recently made changes to their positions in the company. Park Avenue Securities LLC purchased a new stake in shares of Watsco during the 3rd quarter valued at about $357,000. First Trust Direct Indexing L.P. grew its position in Watsco by 13.6% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 718 shares of the construction company's stock worth $271,000 after purchasing an additional 86 shares during the period. Arete Wealth Advisors LLC bought a new stake in Watsco in the 3rd quarter worth approximately $324,000. Congress Wealth Management LLC DE bought a new position in shares of Watsco during the 3rd quarter valued at $541,000. Finally, Fifth Third Bancorp boosted its stake in shares of Watsco by 7.3% in the 3rd quarter. Fifth Third Bancorp now owns 1,267 shares of the construction company's stock worth $479,000 after buying an additional 86 shares during the last quarter. Institutional investors own 89.71% of the company's 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.

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