Watsco, Inc. (NYSE:WSO) Shares Bought by Nicolet Advisory Services LLC

Nicolet Advisory Services LLC grew its stake in Watsco, Inc. (NYSE:WSO) by 32.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,231 shares of the construction company’s stock after purchasing an additional 300 shares during the period. Nicolet Advisory Services LLC’s holdings in Watsco were worth $538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Deutsche Bank AG grew its position in Watsco by 11.6% in the third quarter. Deutsche Bank AG now owns 31,887 shares of the construction company’s stock worth $12,044,000 after acquiring an additional 3,322 shares during the period. BKM Wealth Management LLC acquired a new stake in shares of Watsco during the 4th quarter worth about $32,000. Vest Financial LLC purchased a new stake in Watsco in the 4th quarter valued at about $243,000. Contravisory Investment Management Inc. purchased a new stake in Watsco in the 4th quarter valued at about $26,000. Finally, First Bank & Trust lifted its position in Watsco by 3.2% in the fourth quarter. First Bank & Trust now owns 1,303 shares of the construction company’s stock valued at $558,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WSO shares. Stephens reiterated an “overweight” rating and set a $500.00 price target on shares of Watsco in a research report on Thursday, April 25th. Robert W. Baird lifted their target price on shares of Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Watsco currently has a consensus rating of “Hold” and an average price target of $404.25.

Watsco Trading Down 0.1 %

Shares of NYSE WSO traded down $0.49 during trading on Friday, reaching $494.38. The stock had a trading volume of 195,332 shares, compared to its average volume of 277,022. Watsco, Inc. has a fifty-two week low of $337.58 and a fifty-two week 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 business’s 50-day moving average price is $479.85 and its 200-day moving average price is $436.44. The company has a market cap of $19.92 billion, a P/E ratio of 38.03 and a beta of 0.88.

Watsco (NYSE:WSO) last released its earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). The company 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 quarter last year, the business posted $2.83 earnings per share. On average, equities research analysts predict that Watsco, Inc. will post 14.1 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently announced 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. The ex-dividend date is Tuesday, July 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.18%. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Insider Activity at Watsco

In related 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 value of $366,759.90. Following the completion of the transaction, the executive vice president now directly owns 1,770 shares in the company, valued at $838,714.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Watsco news, EVP Barry S. Logan sold 774 shares of Watsco 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 completion of the sale, the executive vice president now directly owns 1,770 shares of the company’s stock, valued at approximately $838,714.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Alexander Macdonald sold 5,334 shares of Watsco stock in a transaction dated Thursday, May 9th. The stock was 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. 12.86% of the stock is currently owned by company insiders.

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.