Gateway Investment Advisers LLC Cuts Position in Watsco, Inc. (NYSE:WSO)

Gateway Investment Advisers LLC decreased its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 11.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,032 shares of the construction company's stock after selling 521 shares during the quarter. Gateway Investment Advisers LLC's holdings in Watsco were worth $1,911,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of WSO. J. W. Coons Advisors LLC lifted its holdings in Watsco by 0.7% during the 3rd quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company's stock worth $1,475,000 after buying an additional 20 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Watsco by 30.6% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company's stock worth $46,000 after acquiring an additional 22 shares in the last quarter. CWM LLC lifted its stake in Watsco by 2.6% during the third quarter. CWM LLC now owns 952 shares of the construction company's stock worth $468,000 after purchasing an additional 24 shares during the last quarter. MCF Advisors LLC lifted its stake in Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company's stock worth $57,000 after purchasing an additional 25 shares during the last quarter. Finally, Equitable Trust Co. boosted its holdings in Watsco by 2.2% in the third quarter. Equitable Trust Co. now owns 1,166 shares of the construction company's stock valued at $574,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

Watsco Trading Up 1.2 %

WSO stock traded up $5.82 on Friday, hitting $496.92. The company's stock had a trading volume of 204,978 shares, compared to its average volume of 201,972. The stock has a market cap of $20.07 billion, a price-to-earnings ratio of 38.40 and a beta of 0.95. The firm has a 50 day moving average of $508.48 and a two-hundred day moving average of $492.42. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing analysts' consensus estimates of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the firm posted $4.35 earnings per share. The company's revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities analysts forecast that Watsco, Inc. will post 12.97 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $2.70 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.17%. Watsco's dividend payout ratio (DPR) is currently 83.46%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on WSO shares. Robert W. Baird reduced their price objective on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Northcoast Research started coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a "neutral" rating for the company. Finally, Raymond James started coverage on Watsco in a report on Friday. They set a "market perform" rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Watsco presently has an average rating of "Hold" and a consensus target price of $488.33.

Insider Activity

In other news, EVP Barry S. Logan sold 10,998 shares of Watsco 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 filing with the SEC, which is available at this hyperlink. Corporate insiders own 12.86% of the company's stock.

Watsco 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.