Healthcare of Ontario Pension Plan Trust Fund Buys New Shares in Watsco, Inc. (NYSE:WSO)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Watsco, Inc. (NYSE:WSO) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,137 shares of the construction company’s stock, valued at approximately $491,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wetzel Investment Advisors Inc. acquired a new stake in Watsco during the fourth quarter worth about $25,000. First PREMIER Bank acquired a new stake in Watsco during the first quarter worth about $25,000. Cullen Frost Bankers Inc. acquired a new stake in Watsco during the fourth quarter worth about $28,000. ORG Partners LLC purchased a new stake in shares of Watsco in the first quarter worth about $31,000. Finally, Hartford Financial Management Inc. boosted its position in shares of Watsco by 53.1% in the fourth quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock worth $32,000 after buying an additional 26 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Trading Up 2.1 %

Shares of WSO opened at $490.64 on Friday. The company has a market capitalization of $19.77 billion, a P/E ratio of 37.74 and a beta of 0.88. Watsco, Inc. has a one year low of $337.58 and a one year high of $520.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.92. The stock has a 50-day moving average price of $481.00 and a 200 day moving average price of $438.60.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). The business had revenue of $1.56 billion during 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 company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $2.83 EPS. Sell-side analysts forecast that Watsco, Inc. will post 14.1 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Tuesday, July 16th will be issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, July 16th. Watsco’s dividend payout ratio is currently 83.08%.

Insider Activity at Watsco

In other Watsco news, Director John Alexander Macdonald sold 5,334 shares of the stock in a transaction that occurred 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 filing with the SEC, which is available at this link. In other Watsco news, Director John Alexander Macdonald sold 5,334 shares of the stock in a transaction that occurred 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 filing with the SEC, which is available at this link. Also, EVP Barry S. Logan sold 774 shares of the stock in a transaction that occurred 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 transaction, 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 currently owned by company insiders.

Wall Street Analyst Weigh In

WSO has been the subject of several analyst reports. Stephens reaffirmed an “overweight” rating and issued a $500.00 target price on shares of Watsco in a research report on Thursday, April 25th. Robert W. Baird upped their target price on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Watsco currently has a consensus rating of “Hold” and an average price target of $410.57.

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.