Heartland Advisors Inc. Cuts Stake in Watsco, Inc. (NYSE:WSO)

Heartland Advisors Inc. lowered its position in Watsco, Inc. (NYSE:WSO - Free Report) by 13.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,332 shares of the construction company's stock after selling 3,860 shares during the quarter. Heartland Advisors Inc. owned approximately 0.06% of Watsco worth $10,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wetzel Investment Advisors Inc. bought a new stake in Watsco during the 4th quarter valued at $25,000. Contravisory Investment Management Inc. bought a new stake in shares of Watsco in the fourth quarter worth about $26,000. Cullen Frost Bankers Inc. purchased a new position in Watsco during the 4th quarter valued at about $28,000. Rise Advisors LLC bought a new position in Watsco during the 4th quarter valued at approximately $30,000. Finally, BKM Wealth Management LLC bought a new position in Watsco during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 89.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WSO. Stephens reissued an "overweight" rating and set a $500.00 target price on shares of Watsco in a research note on Thursday, April 25th. Robert W. Baird boosted their price objective on shares of Watsco from $420.00 to $460.00 and gave the company an "outperform" rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $404.25.

Insider Transactions at Watsco

In other news, Director John Alexander Macdonald sold 5,334 shares of the firm's stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Barry S. Logan sold 774 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 1,770 shares in the company, valued at $838,714.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Alexander Macdonald sold 5,334 shares of the stock in a transaction that occurred 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. Corporate insiders own 13.30% of the company's stock.

Watsco Price Performance

Shares of WSO traded up $4.99 during midday trading on Tuesday, hitting $484.45. 289,607 shares of the company traded hands, compared to its average volume of 342,183. The firm has a 50 day moving average of $431.11 and a 200-day moving average of $408.61. Watsco, Inc. has a 52 week low of $315.17 and a 52 week high of $487.74. The stock has a market cap of $19.14 billion, a price-to-earnings ratio of 37.27 and a beta of 0.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.92.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings data 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 net margin of 7.03% and a return on equity of 19.26%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the company earned $2.83 EPS. The firm's revenue for the quarter was up .9% on a year-over-year basis. On average, analysts forecast that Watsco, Inc. will post 14.26 EPS for the current fiscal year.

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were given a dividend of $2.70 per share. The ex-dividend date of this dividend was Friday, April 12th. This is a positive change from Watsco's previous quarterly dividend of $2.45. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.23%. Watsco's dividend payout ratio (DPR) is 83.08%.

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.

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