Oppenheimer Asset Management Inc. Has $8.27 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

Oppenheimer Asset Management Inc. lowered its position in shares of Watsco, Inc. (NYSE:WSO) by 12.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,153 shares of the construction company’s stock after selling 2,756 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Watsco were worth $8,274,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WSO. Oppenheimer & Co. Inc. grew its holdings in shares of Watsco by 0.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 7,946 shares of the construction company’s stock valued at $3,432,000 after buying an additional 33 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Watsco by 22.0% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,222 shares of the construction company’s stock worth $3,984,000 after acquiring an additional 1,665 shares in the last quarter. Hilltop National Bank acquired a new position in Watsco in the first quarter valued at about $156,000. SG Americas Securities LLC increased its holdings in shares of Watsco by 39.8% in the first quarter. SG Americas Securities LLC now owns 2,451 shares of the construction company’s stock worth $1,059,000 after acquiring an additional 698 shares in the last quarter. Finally, Sciencast Management LP acquired a new stake in shares of Watsco during the first quarter worth about $484,000. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Up 0.6 %

NYSE WSO traded up $2.95 during trading on Friday, hitting $492.60. The stock had a trading volume of 264,287 shares, compared to its average volume of 258,340. Watsco, Inc. has a 12 month low of $337.58 and a 12 month high of $502.00. 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 company’s 50-day moving average price is $476.80 and its two-hundred day moving average price is $433.74. The company has a market capitalization of $19.85 billion, a PE ratio of 37.89 and a beta of 0.88.

Watsco (NYSE:WSO) last posted its quarterly earnings data 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 business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.59 billion. Watsco had a net margin of 7.03% and a return on equity of 19.26%. Watsco’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the business earned $2.83 earnings per share. As a group, sell-side analysts forecast that Watsco, Inc. will post 14.26 EPS for the current year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Tuesday, July 16th will be given a dividend of $2.70 per share. The ex-dividend date is Tuesday, July 16th. This represents a $10.80 annualized dividend and a dividend yield of 2.19%. Watsco’s payout ratio is 83.08%.

Insider Buying and Selling

In other Watsco news, EVP Barry S. Logan sold 774 shares of the business’s 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 of the company’s stock, valued at $838,714.50. The sale was disclosed in a legal filing with the SEC, which is available 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 shares were sold at an average price of $473.85, for a total value 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 $838,714.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John Alexander Macdonald sold 5,334 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $466.41, for a total transaction of $2,487,830.94. The disclosure for this sale can be found here. 12.86% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WSO shares. Robert W. Baird boosted their price objective on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Stephens reiterated an “overweight” rating and issued a $500.00 price target on shares of Watsco in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $404.25.

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.