WASHINGTON TRUST Co Has $18.48 Million Stock Position in Watsco, Inc. (NYSE:WSO)

WASHINGTON TRUST Co decreased its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,999 shares of the construction company's stock after selling 1,967 shares during the quarter. WASHINGTON TRUST Co owned 0.10% of Watsco worth $18,481,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Wingate Wealth Advisors Inc. bought a new position in Watsco in the 4th quarter valued at about $36,000. Ashton Thomas Securities LLC bought a new stake in shares of Watsco during the 3rd quarter worth about $43,000. Quarry LP lifted its stake in shares of Watsco by 57.9% in the 3rd 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 shares of Watsco in the third quarter valued at approximately $48,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Watsco during the fourth quarter valued at approximately $50,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WSO shares. Raymond James initiated coverage on Watsco in a research report on Friday, January 17th. They issued a "market perform" rating for the company. Northcoast Research began coverage on Watsco in a research note on Friday, November 22nd. They issued a "neutral" rating on the stock. 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $495.00.

Watsco Stock Down 3.7 %

NYSE:WSO traded down $19.64 during trading hours on Wednesday, reaching $511.11. 521,635 shares of the company's stock were exchanged, compared to its average volume of 243,351. The company has a market capitalization of $20.64 billion, a P/E ratio of 39.50 and a beta of 0.95. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $571.41. The business's 50-day simple moving average is $484.90 and its two-hundred day simple moving average is $491.75.

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 (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.24. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. As a group, sell-side analysts anticipate that Watsco, Inc. will post 13.03 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently disclosed 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 2.11%. The ex-dividend date of this dividend was Friday, January 17th. Watsco's payout ratio is 83.46%.

Insider Buying and Selling at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the firm's 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.86% of the company's stock.

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.