Geneva Capital Management LLC Trims Holdings in Watsco, Inc. (NYSE:WSO)

Geneva Capital Management LLC lessened its position in shares of Watsco, Inc. (NYSE:WSO) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,127 shares of the construction company’s stock after selling 924 shares during the period. Geneva Capital Management LLC owned approximately 0.15% of Watsco worth $26,405,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in WSO. Shaker Investments LLC OH grew its position in Watsco by 0.3% during the first quarter. Shaker Investments LLC OH now owns 7,564 shares of the construction company’s stock valued at $3,267,000 after acquiring an additional 24 shares during the last quarter. Hartford Financial Management Inc. raised its stake in Watsco by 53.1% in the fourth quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock worth $32,000 after buying an additional 26 shares in the last quarter. Raleigh Capital Management Inc. lifted its stake in shares of Watsco by 35.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company’s stock valued at $41,000 after purchasing an additional 28 shares during the period. Lindbrook Capital LLC lifted its position in Watsco by 53.8% during the fourth quarter. Lindbrook Capital LLC now owns 80 shares of the construction company’s stock valued at $34,000 after buying an additional 28 shares during the period. Finally, Lincoln National Corp boosted its stake in Watsco by 4.0% during the fourth quarter. Lincoln National Corp now owns 728 shares of the construction company’s stock worth $312,000 after acquiring an additional 28 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WSO shares. Robert W. Baird increased 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 reaffirmed an “overweight” rating and set 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 issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Watsco has an average rating of “Hold” and an average target price of $404.25.

Insider Buying and Selling

In other news, EVP Barry S. Logan sold 774 shares of the firm’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 sale, the executive vice president now owns 1,770 shares of the company’s stock, valued at approximately $838,714.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Barry S. Logan sold 774 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $473.85, for a total transaction of $366,759.90. Following the transaction, the executive vice president now owns 1,770 shares in the company, valued at $838,714.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John Alexander Macdonald sold 5,334 shares of Watsco 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 disclosure for this sale can be found here. 12.86% of the stock is currently owned by company insiders.

Watsco Price Performance

Shares of WSO traded up $3.75 during midday trading on Thursday, hitting $489.65. 325,515 shares of the company traded hands, compared to its average volume of 317,679. Watsco, Inc. has a 52 week low of $337.58 and a 52 week high of $501.00. 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 firm has a 50 day moving average of $475.58 and a 200-day moving average of $432.88. The stock has a market cap of $19.73 billion, a price-to-earnings ratio of 37.38 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 for 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%. Watsco’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.83 EPS. On average, analysts forecast that Watsco, Inc. will post 14.26 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th will be given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Tuesday, July 16th. Watsco’s payout ratio is currently 83.08%.

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.