FineMark National Bank & Trust Purchases 420 Shares of Watsco, Inc. (NYSE:WSO)

FineMark National Bank & Trust raised its holdings in shares of Watsco, Inc. (NYSE:WSO) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 19,881 shares of the construction company’s stock after acquiring an additional 420 shares during the quarter. FineMark National Bank & Trust’s holdings in Watsco were worth $8,518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WSO. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Watsco by 0.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,655,946 shares of the construction company’s stock valued at $625,484,000 after purchasing an additional 7,723 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Watsco by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,310,201 shares of the construction company’s stock worth $476,973,000 after buying an additional 9,201 shares during the last quarter. Blair William & Co. IL grew its holdings in shares of Watsco by 0.7% in the third quarter. Blair William & Co. IL now owns 770,476 shares of the construction company’s stock worth $291,024,000 after acquiring an additional 4,997 shares during the period. Wellington Management Group LLP increased its position in Watsco by 2.6% during the third quarter. Wellington Management Group LLP now owns 648,662 shares of the construction company’s stock valued at $245,013,000 after acquiring an additional 16,589 shares during the last quarter. Finally, Markel Group Inc. lifted its holdings in Watsco by 2.0% in the fourth quarter. Markel Group Inc. now owns 556,750 shares of the construction company’s stock valued at $238,551,000 after acquiring an additional 11,000 shares during the period. 89.71% of the stock is owned by institutional investors.

Insider Activity at Watsco

In related news, Director John Alexander Macdonald sold 5,334 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $466.41, for a total transaction of $2,487,830.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Barry S. Logan sold 774 shares of the business’s 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 of the company’s stock, valued at approximately $838,714.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Alexander Macdonald sold 5,334 shares of Watsco stock in a transaction dated 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. 12.86% of the stock is currently owned by insiders.

Watsco Price Performance

NYSE WSO traded down $3.10 during trading hours on Thursday, reaching $480.09. The company’s stock had a trading volume of 178,824 shares, compared to its average volume of 332,040. The company has a market capitalization of $19.35 billion, a price-to-earnings ratio of 36.70 and a beta of 0.86. Watsco, Inc. has a 1 year low of $315.17 and a 1 year high of $488.70. The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $440.81 and its 200-day moving average price is $413.44.

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.09). Watsco had a net margin of 7.03% and a return on equity of 19.26%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the prior year, the business earned $2.83 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities research analysts predict that Watsco, Inc. will post 14.23 EPS for the current fiscal year.

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were issued a $2.70 dividend. This is a boost from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date was Friday, April 12th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.25%. Watsco’s payout ratio is 83.08%.

Analysts Set New Price Targets

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

Watsco Company 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.