State of Alaska Department of Revenue Sells 260 Shares of Watsco, Inc. (NYSE:WSO)

State of Alaska Department of Revenue lessened its holdings in shares of Watsco, Inc. (NYSE:WSOFree Report) by 7.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,397 shares of the construction company’s stock after selling 260 shares during the quarter. State of Alaska Department of Revenue’s holdings in Watsco were worth $1,467,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Dudley & Shanley Inc. raised its position in Watsco by 2.0% during the first quarter. Dudley & Shanley Inc. now owns 25,730 shares of the construction company’s stock valued at $11,115,000 after acquiring an additional 500 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Watsco by 1.2% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 71,298 shares of the construction company’s stock valued at $30,799,000 after purchasing an additional 818 shares during the last quarter. Applied Capital LLC FL grew its holdings in Watsco by 5.4% during the first quarter. Applied Capital LLC FL now owns 6,900 shares of the construction company’s stock valued at $2,981,000 after purchasing an additional 356 shares during the last quarter. Breakwater Capital Group acquired a new position in Watsco during the first quarter valued at approximately $212,000. Finally, MCF Advisors LLC acquired a new position in Watsco during the first quarter valued at approximately $39,000. Institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented 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 report on Thursday, April 25th. Stephens reiterated an “overweight” rating and set a $500.00 price target on shares of Watsco in a report on Thursday, April 25th. One investment 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $404.25.

View Our Latest Research Report on WSO

Insiders Place Their Bets

In other Watsco news, Director John Alexander Macdonald sold 5,334 shares of Watsco stock in a transaction on 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 SEC, which is accessible through this link. In other Watsco news, EVP Barry S. Logan sold 774 shares of Watsco 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 completion of the transaction, the executive vice president now directly owns 1,770 shares of the company’s stock, valued at $838,714.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Alexander Macdonald sold 5,334 shares of Watsco stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total value of $2,487,830.94. The disclosure for this sale can be found here. Corporate insiders own 12.86% of the company’s stock.

Watsco Trading Up 0.1 %

Shares of Watsco stock opened at $481.82 on Tuesday. The company’s fifty day simple moving average is $474.29 and its 200-day simple moving average is $432.15. The company has a market cap of $19.42 billion, a price-to-earnings ratio of 37.06 and a beta of 0.88. The company has a current ratio of 2.92, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 1 year low of $337.58 and a 1 year high of $493.65.

Watsco (NYSE:WSOGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.09). The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.83 EPS. As a group, sell-side analysts expect that Watsco, Inc. will post 14.26 EPS for the current year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th will be paid a dividend of $2.70 per share. The ex-dividend date is Tuesday, July 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.24%. Watsco’s dividend payout ratio is currently 83.08%.

About Watsco

(Free Report)

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.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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