Watsco, Inc. (NYSE:WSO) Shares Sold by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC lowered its position in shares of Watsco, Inc. (NYSE:WSO) by 12.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 276 shares of the construction company’s stock after selling 39 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Watsco were worth $131,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. J. W. Coons Advisors LLC increased its position in shares of Watsco by 0.7% during the third quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock worth $1,475,000 after purchasing an additional 20 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after purchasing an additional 22 shares in the last quarter. CWM LLC increased its position in shares of 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 in the last quarter. MCF Advisors LLC increased its position in shares of 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 in the last quarter. Finally, Equitable Trust Co. increased its position in shares of Watsco by 2.2% during the third quarter. Equitable Trust Co. now owns 1,166 shares of the construction company’s stock worth $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.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Northcoast Research began coverage on Watsco in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Robert W. Baird reduced their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th.

Watsco Price Performance

Shares of WSO stock traded up $5.24 during trading hours on Monday, reaching $469.10. 40,455 shares of the company’s stock were exchanged, compared to its average volume of 240,003. The company has a market cap of $18.94 billion, a P/E ratio of 36.25 and a beta of 0.95. The company’s 50 day moving average is $510.69 and its two-hundred day moving average is $491.94. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the company posted $4.35 earnings per share. The business’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, analysts predict that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.30%. The ex-dividend date is Friday, January 17th. Watsco’s payout ratio is currently 83.46%.

Insider Activity at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was 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 can be accessed through this hyperlink. 12.86% of the stock is currently owned by company insiders.

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.