Ameritas Investment Partners Inc. Sells 581 Shares of Watsco, Inc. (NYSE:WSO)

Ameritas Investment Partners Inc. reduced its position in shares of Watsco, Inc. (NYSE:WSO) by 7.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,897 shares of the construction company’s stock after selling 581 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Watsco were worth $2,979,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. bought a new stake in shares of Watsco in the 4th quarter valued at about $25,000. First PREMIER Bank acquired a new position in Watsco during the first quarter worth approximately $25,000. Cullen Frost Bankers Inc. bought a new stake in Watsco in the fourth quarter valued at approximately $28,000. ORG Partners LLC acquired a new stake in shares of Watsco in the first quarter valued at approximately $31,000. Finally, BKM Wealth Management LLC bought a new position in shares of Watsco during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on WSO. Robert W. Baird increased 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. Stephens reiterated an “overweight” rating and issued a $500.00 price objective on shares of Watsco in a report on Thursday, April 25th. One 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’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $404.25.

Insider Activity at Watsco

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 transaction of $366,759.90. Following the transaction, the executive vice president now owns 1,770 shares in the company, valued at approximately $838,714.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Barry S. Logan sold 774 shares of the business’s 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 completion of the transaction, the executive vice president now owns 1,770 shares of the company’s stock, valued at $838,714.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John Alexander Macdonald sold 5,334 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $466.41, for a total transaction of $2,487,830.94. The disclosure for this sale can be found here. 12.86% of the stock is currently owned by corporate insiders.

Watsco Stock Performance

NYSE WSO traded up $4.21 on Tuesday, reaching $504.10. The stock had a trading volume of 212,504 shares, compared to its average volume of 313,656. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.31. The company has a market cap of $20.32 billion, a P/E ratio of 38.44 and a beta of 0.88. The firm has a fifty day moving average of $480.25 and a two-hundred day moving average of $437.25. Watsco, Inc. has a 1-year low of $337.58 and a 1-year high of $520.41.

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). Watsco had a net margin of 7.03% and a return on equity of 19.26%. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the company posted $2.83 earnings per share. The company’s revenue was up .9% on a year-over-year basis. On average, equities research analysts anticipate that Watsco, Inc. will post 14.1 EPS for the current year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th will be given a $2.70 dividend. The ex-dividend date of this dividend is Tuesday, July 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.14%. Watsco’s payout ratio is 83.08%.

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.