Goldman Sachs Group Inc. Raises Stock Holdings in Watsco, Inc. (NYSE:WSO)

Goldman Sachs Group Inc. increased its position in Watsco, Inc. (NYSE:WSO) by 12.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 255,062 shares of the construction company’s stock after acquiring an additional 28,047 shares during the period. Goldman Sachs Group Inc.’s holdings in Watsco were worth $109,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Deutsche Bank AG raised its stake in shares of Watsco by 11.6% during the 3rd quarter. Deutsche Bank AG now owns 31,887 shares of the construction company’s stock valued at $12,044,000 after buying an additional 3,322 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Watsco by 9.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 14,979 shares of the construction company’s stock valued at $5,658,000 after buying an additional 1,316 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Watsco by 71.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,942 shares of the construction company’s stock valued at $3,401,000 after buying an additional 3,718 shares during the last quarter. QRG Capital Management Inc. purchased a new position in shares of Watsco during the 3rd quarter valued at about $274,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in shares of Watsco in the 3rd quarter valued at about $1,701,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Insider Buying and Selling at Watsco

In other Watsco news, Director John Alexander Macdonald sold 5,334 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $466.41, for a total value of $2,487,830.94. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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. Also, EVP Barry S. Logan sold 774 shares of the company’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 approximately $838,714.50. The disclosure for this sale can be found here. 12.86% of the stock is owned by corporate insiders.

Watsco Price Performance

Shares of Watsco stock traded down $7.42 on Friday, hitting $477.99. 231,015 shares of the company were exchanged, compared to its average volume of 223,821. The stock has a market capitalization of $19.26 billion, a price-to-earnings ratio of 36.77 and a beta of 0.88. The company has a 50-day moving average price of $456.84 and a 200 day moving average price of $424.20. Watsco, Inc. has a 1-year low of $337.58 and a 1-year high of $491.90. 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 (NYSE:WSO) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.09). The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Watsco had a net margin of 7.03% and a return on equity of 19.26%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.83 EPS. As a group, sell-side analysts predict that Watsco, Inc. will post 14.26 earnings per share for the current fiscal year.

Watsco Increases Dividend

The company also recently declared 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. This represents a $10.80 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, April 12th. This is a positive change from Watsco’s previous quarterly dividend of $2.45. Watsco’s payout ratio is presently 83.08%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on WSO shares. 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 given a buy rating to the stock. Based on data from MarketBeat.com, Watsco currently has an average rating of “Hold” and an average target price of $404.25.

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.