Alpha Omega Wealth Management LLC Sells 396 Shares of Watsco, Inc. (NYSE:WSO)

Alpha Omega Wealth Management LLC decreased its position in Watsco, Inc. (NYSE:WSO) by 9.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,698 shares of the construction company’s stock after selling 396 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Watsco were worth $1,597,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in WSO. Norges Bank bought a new position in Watsco in the fourth quarter worth $102,958,000. International Assets Investment Management LLC raised its holdings in Watsco by 40,702.6% in the fourth quarter. International Assets Investment Management LLC now owns 205,237 shares of the construction company’s stock worth $87,938,000 after purchasing an additional 204,734 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Watsco during the fourth quarter valued at $64,908,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Watsco by 1,005.1% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 103,143 shares of the construction company’s stock worth $44,194,000 after purchasing an additional 93,810 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Watsco in the 3rd quarter worth about $21,602,000. Institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on WSO. Robert W. Baird lifted their price target on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Stephens reaffirmed an “overweight” rating and issued a $500.00 price target on shares of Watsco in a research report on Thursday, April 25th. One investment 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 presently has an average rating of “Hold” and a consensus target price of $404.25.

Watsco Price Performance

Shares of NYSE:WSO opened at $463.24 on Friday. Watsco, Inc. has a fifty-two week low of $337.58 and a fifty-two week high of $493.65. The business has a 50-day simple moving average of $468.92 and a two-hundred day simple moving average of $429.64. 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 market cap of $18.67 billion, a price-to-earnings ratio of 35.63 and a beta of 0.88.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period last year, the firm posted $2.83 EPS. Watsco’s quarterly revenue was up .9% compared to the same quarter last year. On average, analysts expect that Watsco, Inc. will post 14.26 earnings per share for the current year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were paid a dividend of $2.70 per share. This is an increase from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Friday, April 12th. Watsco’s payout ratio is currently 83.08%.

Insider Buying and Selling at Watsco

In other Watsco news, Director John Alexander Macdonald sold 5,334 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $466.41, for a total transaction of $2,487,830.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director John Alexander Macdonald sold 5,334 shares of the business’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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Barry S. Logan sold 774 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 1,770 shares of the company’s stock, valued at $838,714.50. The disclosure for this sale can be found here. Corporate insiders own 12.86% of the company’s stock.

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.