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.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th were paid a $1.25 dividend. The ex-dividend date was Friday, October 13th. This represents a $5.00 annualized dividend and a dividend yield of 3.04%. Watsco’s dividend payout ratio is presently 92.42%.

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.

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About Watsco

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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