Watsco, Inc. (WSO) SVP Barry S. Logan Sells 3,246 Shares of Stock
Watsco, Inc. (NYSE:WSO) SVP Barry S. Logan sold 3,246 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $164.30, for a total transaction of $533,317.80. Following the completion of the sale, the senior vice president now directly owns 15,800 shares in the company, valued at approximately $2,595,940. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Watsco, Inc. (NYSE:WSO) opened at $164.48 on Tuesday. Watsco, Inc. has a 52 week low of $134.08 and a 52 week high of $167.94. The company has a quick ratio of 1.42, a current ratio of 3.13 and a debt-to-equity ratio of 0.21. The company has a market cap of $5,878.68, a price-to-earnings ratio of 30.63 and a beta of 0.83.
Watsco (NYSE:WSO) last issued its earnings results on Wednesday, October 25th. The construction company reported $1.82 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.95 by ($0.13). Watsco had a net margin of 4.46% and a return on equity of 15.00%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm posted $1.78 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. sell-side analysts expect that Watsco, Inc. will post 5.59 earnings per share for the current fiscal year.
WSO has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of Watsco from $151.00 to $156.00 and gave the company an “underweight” rating in a research note on Thursday, October 26th. Stifel Nicolaus restated a “buy” rating and issued a $154.00 target price on shares of Watsco in a research note on Thursday, September 7th. Zacks Investment Research upgraded shares of Watsco from a “hold” rating to a “buy” rating and set a $169.00 target price on the stock in a research note on Tuesday, August 1st. Robert W. Baird restated a “buy” rating and issued a $163.00 target price on shares of Watsco in a research note on Friday, September 1st. Finally, KeyCorp restated a “buy” rating on shares of Watsco in a research note on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $160.40.
Hedge funds and other institutional investors have recently modified their holdings of the stock. San Francisco Sentry Investment Group CA acquired a new position in Watsco during the 2nd quarter worth about $125,000. Public Employees Retirement Association of Colorado lifted its position in Watsco by 15.7% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 952 shares of the construction company’s stock worth $147,000 after buying an additional 129 shares in the last quarter. Creative Planning lifted its position in Watsco by 6.1% during the 2nd quarter. Creative Planning now owns 1,039 shares of the construction company’s stock worth $160,000 after buying an additional 60 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in Watsco during the 2nd quarter worth about $206,000. Finally, CIBC Asset Management Inc acquired a new position in Watsco during the 3rd quarter worth about $206,000. Institutional investors and hedge funds own 81.39% of the company’s stock.
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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