Lighthouse Investment Partners LLC Trims Stock Holdings in Watsco, Inc. (NYSE:WSO)

Lighthouse Investment Partners LLC trimmed its holdings in Watsco, Inc. (NYSE:WSOFree Report) by 90.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,765 shares of the construction company’s stock after selling 16,541 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Watsco were worth $756,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hartford Financial Management Inc. increased its holdings in Watsco by 53.1% during the 4th quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock worth $32,000 after purchasing an additional 26 shares during the period. Raleigh Capital Management Inc. raised its stake in Watsco by 35.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company’s stock worth $41,000 after acquiring an additional 28 shares during the last quarter. Lindbrook Capital LLC raised its stake in Watsco by 53.8% in the 4th quarter. Lindbrook Capital LLC now owns 80 shares of the construction company’s stock worth $34,000 after acquiring an additional 28 shares during the last quarter. Lincoln National Corp raised its stake in shares of Watsco by 4.0% during the 4th quarter. Lincoln National Corp now owns 728 shares of the construction company’s stock valued at $312,000 after buying an additional 28 shares during the last quarter. Finally, Allworth Financial LP raised its stake in shares of Watsco by 44.1% during the 4th quarter. Allworth Financial LP now owns 98 shares of the construction company’s stock valued at $42,000 after buying an additional 30 shares during the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Watsco

In other news, Director John Alexander Macdonald sold 5,334 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $466.41, for a total transaction of $2,487,830.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Watsco news, EVP Barry S. Logan sold 774 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $473.85, for a total value of $366,759.90. Following the sale, the executive vice president now directly owns 1,770 shares in the company, valued at $838,714.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Alexander Macdonald sold 5,334 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total value of $2,487,830.94. The disclosure for this sale can be found here. Corporate insiders own 12.86% of the company’s stock.

Watsco Stock Up 0.1 %

Shares of NYSE WSO opened at $463.32 on Tuesday. The firm has a market cap of $18.67 billion, a price-to-earnings ratio of 35.64 and a beta of 0.88. The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 52-week low of $337.58 and a 52-week high of $491.90. The business’s 50 day moving average is $452.74 and its two-hundred day moving average is $421.45.

Watsco (NYSE:WSOGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the prior year, the company posted $2.83 EPS. The firm’s revenue was up .9% compared to the same quarter last year. Research analysts predict that Watsco, Inc. will post 14.26 EPS for the current year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were given a dividend of $2.70 per share. The ex-dividend date was Friday, April 12th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.33%. This is a positive change from Watsco’s previous quarterly dividend of $2.45. Watsco’s dividend payout ratio is currently 83.08%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WSO. Stephens restated an “overweight” rating and issued a $500.00 price target on shares of Watsco in a research note on Thursday, April 25th. Robert W. Baird lifted their price target on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $404.25.

Read Our Latest Report on Watsco

About Watsco

(Free Report)

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.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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