Watsco, Inc. (NYSE:WSO) Position Cut by Compass Ion Advisors LLC

Compass Ion Advisors LLC trimmed its stake in Watsco, Inc. (NYSE:WSO) by 23.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 868 shares of the construction company’s stock after selling 267 shares during the quarter. Compass Ion Advisors LLC’s holdings in Watsco were worth $375,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Wetzel Investment Advisors Inc. bought a new stake in shares of Watsco during the fourth quarter valued at about $25,000. First PREMIER Bank bought a new stake in shares of Watsco during the first quarter valued at about $25,000. Contravisory Investment Management Inc. bought a new stake in shares of Watsco during the fourth quarter valued at about $26,000. Cullen Frost Bankers Inc. bought a new stake in shares of Watsco during the fourth quarter valued at about $28,000. Finally, Rise Advisors LLC bought a new stake in shares of Watsco during the fourth quarter valued at about $30,000. 89.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director John Alexander Macdonald sold 5,334 shares of Watsco stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $466.41, for a total value of $2,487,830.94. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director John Alexander Macdonald sold 5,334 shares of Watsco stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $466.41, for a total value of $2,487,830.94. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Barry S. Logan sold 774 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $473.85, for a total value of $366,759.90. Following the sale, 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. 12.86% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WSO. Stephens restated an “overweight” rating and set a $500.00 price objective on shares of Watsco in a research note on Thursday, April 25th. Robert W. Baird lifted their target price on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $404.25.

Watsco Price Performance

NYSE:WSO opened at $462.65 on Tuesday. The business’s 50-day moving average price is $470.04 and its 200 day moving average price is $430.11. The firm has a market cap of $18.64 billion, a P/E ratio of 35.59 and a beta of 0.88. Watsco, Inc. has a 52-week low of $337.58 and a 52-week high of $493.65. The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01.

Watsco (NYSE:WSO) last issued its quarterly 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). The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.83 EPS. As a group, sell-side analysts predict that Watsco, Inc. will post 14.26 earnings per share for the current fiscal year.

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.