Watsco, Inc. (NYSE:WSO) Shares Sold by Pembroke Management LTD

Pembroke Management LTD lessened its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,241 shares of the construction company's stock after selling 648 shares during the period. Watsco comprises about 3.6% of Pembroke Management LTD's investment portfolio, making the stock its 6th largest position. Pembroke Management LTD owned approximately 0.15% of Watsco worth $28,074,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its stake in Watsco by 10.6% during the third quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock valued at $1,782,651,000 after purchasing an additional 346,470 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Watsco by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company's stock valued at $616,357,000 after purchasing an additional 62,041 shares during the last quarter. State Street Corp increased its stake in Watsco by 5.9% during the third quarter. State Street Corp now owns 1,173,762 shares of the construction company's stock valued at $577,350,000 after purchasing an additional 65,846 shares during the last quarter. Geode Capital Management LLC increased its stake in Watsco by 9.9% during the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company's stock valued at $345,783,000 after purchasing an additional 63,254 shares during the last quarter. Finally, Markel Group Inc. increased its stake in Watsco by 2.0% during the third quarter. Markel Group Inc. now owns 582,500 shares of the construction company's stock valued at $286,520,000 after purchasing an additional 11,250 shares during the last quarter. Institutional investors own 89.71% of the company's stock.

Wall Street Analyst Weigh In

WSO has been the subject of several recent research reports. Robert W. Baird boosted their target price on shares of Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a research note on Wednesday. Northcoast Research initiated coverage on shares of Watsco in a research report on Friday, November 22nd. They set a "neutral" rating for the company. Finally, Raymond James initiated coverage on shares of Watsco in a research report on Friday, January 17th. They set a "market perform" rating for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $495.00.

Insider Buying and Selling

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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.86% of the company's stock.

Watsco Stock Performance

Shares of Watsco stock traded down $17.09 during trading on Friday, hitting $498.12. 286,029 shares of the stock were exchanged, compared to its average volume of 248,613. The stock's fifty day moving average is $484.75 and its 200 day moving average is $492.16. The stock has a market cap of $20.11 billion, a PE ratio of 37.59 and a beta of 0.95. Watsco, Inc. has a 12 month low of $380.58 and a 12 month high of $571.41.

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

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.17%. The ex-dividend date was Friday, January 17th. Watsco's payout ratio is currently 81.51%.

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.