Watsco, Inc. (NYSE:WSO) Shares Sold by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP decreased its stake in shares of Watsco, Inc. (NYSE:WSO) by 88.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,082 shares of the construction company’s stock after selling 159,978 shares during the period. Westfield Capital Management Co. LP owned 0.05% of Watsco worth $9,107,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. purchased a new stake in Watsco during the fourth quarter worth approximately $25,000. First PREMIER Bank bought a new position in shares of Watsco during the first quarter worth about $25,000. Contravisory Investment Management Inc. bought a new stake in shares of Watsco during the fourth quarter valued at approximately $26,000. Cullen Frost Bankers Inc. acquired a new position in Watsco during the 4th quarter worth $28,000. Finally, ORG Partners LLC bought a new position in Watsco in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Trading Down 0.1 %

Shares of Watsco stock traded down $0.49 during trading hours on Friday, hitting $494.38. The company’s stock had a trading volume of 195,332 shares, compared to its average volume of 277,022. The company has a market capitalization of $19.92 billion, a PE ratio of 38.03 and a beta of 0.88. Watsco, Inc. has a 12 month low of $337.58 and a 12 month high of $520.41. The stock has a 50 day moving average of $479.85 and a 200 day moving average of $436.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.31.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $1.59 billion. During the same period last year, the firm earned $2.83 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts predict that Watsco, Inc. will post 14.1 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th will be issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Tuesday, July 16th. Watsco’s dividend payout ratio (DPR) is currently 83.08%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, EVP Barry S. Logan sold 774 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $473.85, for a total transaction of $366,759.90. Following the sale, the executive vice president now owns 1,770 shares in the company, valued at approximately $838,714.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director John Alexander Macdonald sold 5,334 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $466.41, for a total transaction of $2,487,830.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Barry S. Logan sold 774 shares of the stock in a transaction dated 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. Insiders own 12.86% of the company’s stock.

About Watsco

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.