Entropy Technologies LP Buys New Position in Watsco, Inc. (NYSE:WSO)

Entropy Technologies LP bought a new stake in Watsco, Inc. (NYSE:WSO) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,221 shares of the construction company’s stock, valued at approximately $527,000.

A number of other institutional investors and hedge funds have also bought and sold shares of WSO. Norges Bank purchased a new stake in Watsco in the fourth quarter valued at approximately $102,958,000. Motley Fool Asset Management LLC raised its stake in Watsco by 263.6% in the first quarter. Motley Fool Asset Management LLC now owns 320,008 shares of the construction company’s stock valued at $138,234,000 after purchasing an additional 231,987 shares in the last quarter. International Assets Investment Management LLC raised its stake in Watsco by 40,702.6% in the fourth quarter. International Assets Investment Management LLC now owns 205,237 shares of the construction company’s stock valued at $87,938,000 after purchasing an additional 204,734 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Watsco by 1,005.1% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 103,143 shares of the construction company’s stock valued at $44,194,000 after purchasing an additional 93,810 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Watsco by 50.9% during the first quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock worth $80,188,000 after acquiring an additional 62,593 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Watsco

In related 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 value of $2,487,830.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related 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 value of $2,487,830.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Barry S. Logan sold 774 shares of Watsco stock in a transaction on Friday, May 10th. The shares were sold at an average price of $473.85, for a total transaction of $366,759.90. Following the completion of the sale, the executive vice president now 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.

Analyst Upgrades and Downgrades

WSO has been the topic of several research reports. Stephens reissued an “overweight” rating and set 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 shares of Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Watsco currently has a consensus rating of “Hold” and a consensus target price of $404.25.

Watsco Trading Up 0.9 %

Shares of Watsco stock traded up $4.52 on Thursday, hitting $506.99. The stock had a trading volume of 25,029 shares, compared to its average volume of 314,403. 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, Inc. has a one year low of $337.58 and a one year high of $520.41. The stock has a market cap of $20.43 billion, a price-to-earnings ratio of 38.66 and a beta of 0.88. The stock’s 50-day simple moving average is $479.09 and its two-hundred day simple moving average is $435.45.

Watsco (NYSE:WSO) last issued its earnings results 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). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the business posted $2.83 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, sell-side analysts predict that Watsco, Inc. will post 14.1 EPS for the current year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th will be issued a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Tuesday, July 16th. Watsco’s dividend payout ratio is 83.08%.

Watsco 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.