Geneva Capital Management LLC Sells 4,962 Shares of Watsco, Inc. (NYSE:WSO)

Geneva Capital Management LLC reduced its stake in Watsco, Inc. (NYSE:WSO) by 7.3% in the 4th quarter, HoldingsChannel reports. The firm owned 63,059 shares of the construction company’s stock after selling 4,962 shares during the quarter. Geneva Capital Management LLC’s holdings in Watsco were worth $29,883,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WSO. Cullen Frost Bankers Inc. increased its position in shares of Watsco by 13.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 373 shares of the construction company’s stock worth $177,000 after acquiring an additional 43 shares in the last quarter. Arizona State Retirement System increased its position in shares of Watsco by 1.5% during the fourth quarter. Arizona State Retirement System now owns 10,104 shares of the construction company’s stock worth $4,788,000 after acquiring an additional 149 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Watsco during the fourth quarter worth about $63,603,000. M&T Bank Corp increased its position in shares of Watsco by 1.4% during the fourth quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock worth $799,000 after acquiring an additional 23 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of Watsco by 8.2% during the fourth quarter. Assetmark Inc. now owns 662 shares of the construction company’s stock worth $314,000 after acquiring an additional 50 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Watsco Stock Performance

Watsco stock opened at $501.81 on Thursday. Watsco, Inc. has a fifty-two week low of $388.47 and a fifty-two week high of $571.41. The stock has a market cap of $20.26 billion, a PE ratio of 37.87 and a beta of 0.95. The firm’s 50-day simple moving average is $485.38 and its 200 day simple moving average is $493.80.

Watsco (NYSE:WSO) last released its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. As a group, analysts predict that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is 81.51%.

Analyst Ratings Changes

Several equities research analysts have recently commented on WSO shares. Raymond James started coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Northcoast Research started coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Loop Capital boosted their price target on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a report on Thursday, February 27th. Finally, Robert W. Baird boosted their price target on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Watsco currently has an average rating of “Hold” and a consensus price target of $486.25.

Insider Buying and Selling at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the business’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 legal filing with the SEC, which is available through this hyperlink. Corporate 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.