Watsco, Inc. (NYSE:WSO) Shares Sold by Autumn Glory Partners LLC

Autumn Glory Partners LLC reduced its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 60.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 548 shares of the construction company's stock after selling 821 shares during the period. Autumn Glory Partners LLC's holdings in Watsco were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of WSO. Wingate Wealth Advisors Inc. bought a new position in Watsco during the 4th quarter worth approximately $36,000. Ashton Thomas Securities LLC bought a new position in Watsco in the 3rd quarter valued at $43,000. Quarry LP raised its position in Watsco by 57.9% in the third quarter. Quarry LP now owns 90 shares of the construction company's stock worth $44,000 after acquiring an additional 33 shares during the period. Brooklyn Investment Group bought a new position in Watsco during the third quarter valued at $48,000. Finally, Golden State Wealth Management LLC bought a new stake in Watsco in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 89.71% of the company's stock.

Insider Activity

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.86% of the company's stock.

Wall Street Analyst Weigh In

WSO has been the topic of a number of recent analyst reports. Northcoast Research assumed coverage on shares of Watsco in a report on Friday, November 22nd. They issued a "neutral" rating on the stock. Raymond James initiated coverage on shares of Watsco in a report on Friday, January 17th. They set a "market perform" rating for the company. Finally, Robert W. Baird raised their target price on Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $495.00.

Watsco Stock Down 3.7 %

WSO stock traded down $19.64 during mid-day trading on Wednesday, hitting $511.11. The company had a trading volume of 521,635 shares, compared to its average volume of 243,351. The company has a market capitalization of $20.64 billion, a price-to-earnings ratio of 39.50 and a beta of 0.95. The company has a 50-day moving average price of $484.90 and a 200 day moving average price of $491.75. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last released its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.24. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. As a group, analysts expect that Watsco, Inc. will post 13.03 EPS for the current year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were paid a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.11%. Watsco's dividend payout ratio is presently 83.46%.

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.