Watsco, Inc. (NYSE:WSO) Shares Sold by National Pension Service

National Pension Service decreased its position in Watsco, Inc. (NYSE:WSO - Free Report) by 2.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 53,300 shares of the construction company's stock after selling 1,500 shares during the period. National Pension Service owned approximately 0.13% of Watsco worth $25,258,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue raised its stake in Watsco by 16.1% in the third quarter. State of Alaska Department of Revenue now owns 4,037 shares of the construction company's stock valued at $1,985,000 after buying an additional 560 shares during the period. abrdn plc grew its holdings in shares of Watsco by 1.2% during the third quarter. abrdn plc now owns 14,996 shares of the construction company's stock worth $7,378,000 after purchasing an additional 172 shares during the last quarter. First Trust Direct Indexing L.P. increased its holdings in Watsco by 8.0% in the third quarter. First Trust Direct Indexing L.P. now owns 1,888 shares of the construction company's stock valued at $929,000 after purchasing an additional 140 shares during the period. HM Payson & Co. increased its position in Watsco by 83.0% during the 3rd quarter. HM Payson & Co. now owns 410 shares of the construction company's stock valued at $202,000 after purchasing an additional 186 shares during the period. Finally, Stephens Inc. AR boosted its position in shares of Watsco by 6.9% during the 3rd quarter. Stephens Inc. AR now owns 902 shares of the construction company's stock valued at $444,000 after purchasing an additional 58 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of the firm'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 document filed with the SEC, which is available through this link. 12.86% of the stock is owned by corporate insiders.

Watsco Trading Down 0.2 %

Shares of NYSE:WSO traded down $1.10 during mid-day trading on Wednesday, reaching $493.20. The stock had a trading volume of 62,598 shares, compared to its average volume of 249,416. The business's 50 day moving average price is $485.38 and its 200 day moving average price is $493.80. Watsco, Inc. has a 1 year low of $388.47 and a 1 year high of $571.41. The company has a market cap of $19.92 billion, a P/E ratio of 37.24 and a beta of 0.95.

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

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Friday, January 17th. Watsco's dividend payout ratio is currently 81.51%.

Analyst Ratings Changes

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

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.