Watsco, Inc. (NYSE:WSO) Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP lessened its stake in shares of Watsco, Inc. (NYSE:WSO) by 55.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 500 shares of the construction company’s stock after selling 635 shares during the quarter. Aigen Investment Management LP’s holdings in Watsco were worth $237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new position in Watsco during the 4th quarter worth approximately $36,000. Ashton Thomas Securities LLC purchased a new stake in shares of Watsco during the third quarter valued at approximately $43,000. Quarry LP lifted its position in shares of Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after purchasing an additional 33 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Watsco in the third quarter valued at $48,000. Finally, Golden State Wealth Management LLC acquired a new stake in Watsco during the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

Shares of Watsco stock opened at $513.78 on Monday. The firm has a market cap of $20.75 billion, a PE ratio of 38.78 and a beta of 0.92. Watsco, Inc. has a 1 year low of $389.08 and a 1 year high of $571.41. The firm’s 50-day simple moving average is $486.30 and its 200-day simple moving average is $494.33.

Watsco (NYSE:WSO) last released its earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. On average, equities analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.10%. Watsco’s payout ratio is 81.51%.

Insiders Place Their Bets

In other news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.86% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

WSO has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price objective on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Northcoast Research initiated coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Loop Capital raised their price objective on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research note on Thursday, February 27th. Finally, Raymond James began coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Watsco has an average rating of “Hold” and a consensus target price of $486.25.

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.