Fenimore Asset Management Inc Decreases Stock Position in Watsco, Inc. (NYSE:WSO)

Fenimore Asset Management Inc lowered its position in shares of Watsco, Inc. (NYSE:WSO) by 0.6% during the fourth quarter, HoldingsChannel reports. The firm owned 58,180 shares of the construction company’s stock after selling 325 shares during the period. Fenimore Asset Management Inc’s holdings in Watsco were worth $27,571,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Quarry LP acquired a new stake in Watsco during the 2nd quarter valued at $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of Watsco during the third quarter worth about $43,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after acquiring an additional 22 shares in the last quarter. Brooklyn Investment Group purchased a new position in Watsco in the third quarter valued at about $48,000. Finally, MCF Advisors LLC grew its stake in Watsco by 27.8% during the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after purchasing an additional 25 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WSO shares. Raymond James started coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating for the company. Robert W. Baird decreased their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Northcoast Research assumed coverage on shares of Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Watsco presently has a consensus rating of “Hold” and an average price target of $488.33.

Insider Buying and Selling at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.86% of the stock is currently owned by insiders.

Watsco Trading Down 0.6 %

WSO stock opened at $494.93 on Friday. The stock’s 50 day simple moving average is $505.31 and its 200 day simple moving average is $493.00. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $571.41. The firm has a market cap of $19.99 billion, a P/E ratio of 38.25 and a beta of 0.95.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the company posted $4.35 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, research analysts forecast that Watsco, Inc. will post 13.03 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $2.70 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.18%. Watsco’s dividend payout ratio is currently 83.46%.

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.