Geneva Capital Management LLC Cuts Holdings in Watsco, Inc. (NYSE:WSO)

Geneva Capital Management LLC lowered its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 7.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,059 shares of the construction company's stock after selling 4,962 shares during the period. Geneva Capital Management LLC owned about 0.16% of Watsco worth $29,883,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. purchased a new stake in shares of Watsco during the fourth quarter worth about $36,000. Ashton Thomas Securities LLC bought a new position in Watsco during the 3rd quarter valued at approximately $43,000. Quarry LP lifted its holdings in Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company's stock worth $44,000 after buying an additional 33 shares during the period. Brooklyn Investment Group purchased a new stake in Watsco in the 3rd quarter worth approximately $48,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Watsco in the 4th quarter worth approximately $50,000. Institutional investors own 89.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WSO. Raymond James assumed coverage on Watsco in a report on Friday, January 17th. They set a "market perform" rating for the company. Robert W. Baird raised their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Northcoast Research assumed coverage on shares of Watsco in a research note on Friday, November 22nd. They set a "neutral" rating on the stock. Finally, Loop Capital increased their price target on shares of Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research note on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Watsco currently has an average rating of "Hold" and an average price target of $486.25.

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Insider Activity at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the company's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.86% of the stock is owned by corporate insiders.

Watsco Stock Up 1.5 %

Shares of WSO stock traded up $7.66 during mid-day trading on Monday, reaching $520.60. 656,818 shares of the company's stock traded hands, compared to its average volume of 271,212. The company's 50-day moving average price is $486.30 and its 200-day moving average price is $494.33. The company has a market cap of $21.02 billion, a P/E ratio of 39.29 and a beta of 0.92. Watsco, Inc. has a 12 month low of $389.08 and a 12 month high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.24. The company had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. Equities analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.07%. Watsco's payout ratio is currently 81.51%.

Watsco Company 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.