Conestoga Capital Advisors LLC reduced its stake in Watsco Inc (NYSE:WSO) by 19.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,644 shares of the construction company’s stock after selling 2,050 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Watsco were worth $1,470,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WSO. DF Dent & Co. Inc. grew its stake in Watsco by 951.0% in the 2nd quarter. DF Dent & Co. Inc. now owns 342,053 shares of the construction company’s stock valued at $52,745,000 after purchasing an additional 309,509 shares during the period. FMR LLC grew its stake in Watsco by 10.7% in the 2nd quarter. FMR LLC now owns 1,023,513 shares of the construction company’s stock valued at $157,826,000 after purchasing an additional 99,041 shares during the period. Voya Investment Management LLC grew its stake in Watsco by 34.2% in the 2nd quarter. Voya Investment Management LLC now owns 290,105 shares of the construction company’s stock valued at $44,735,000 after purchasing an additional 73,934 shares during the period. Riverbridge Partners LLC grew its stake in Watsco by 68.4% in the 3rd quarter. Riverbridge Partners LLC now owns 163,063 shares of the construction company’s stock valued at $26,265,000 after purchasing an additional 66,240 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Watsco by 471.9% in the 3rd quarter. Victory Capital Management Inc. now owns 63,144 shares of the construction company’s stock valued at $10,171,000 after purchasing an additional 52,103 shares during the period. 82.45% of the stock is owned by institutional investors and hedge funds.

Watsco Inc (NYSE:WSO) opened at $174.94 on Tuesday. The stock has a market capitalization of $6,285.77, a price-to-earnings ratio of 32.34 and a beta of 0.83. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.13 and a quick ratio of 1.42. Watsco Inc has a 12 month low of $134.08 and a 12 month high of $176.57.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.82 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.13). The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.26 billion. Watsco had a return on equity of 15.00% and a net margin of 4.46%. The firm’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 EPS. equities research analysts expect that Watsco Inc will post 5.58 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 16th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, January 12th. This represents a $5.00 annualized dividend and a dividend yield of 2.86%. Watsco’s payout ratio is 92.42%.

A number of research analysts have issued reports on WSO shares. Zacks Investment Research downgraded Watsco from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Morgan Stanley upped their price objective on Watsco from $151.00 to $156.00 and gave the company an “underweight” rating in a research note on Thursday, October 26th. Finally, KeyCorp restated a “buy” rating on shares of Watsco in a research note on Friday, November 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $166.00.

In other news, SVP Barry S. Logan sold 3,246 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $164.30, for a total transaction of $533,317.80. Following the completion of the transaction, the senior vice president now owns 15,800 shares in the company, valued at approximately $2,595,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.93% of the stock is currently owned by corporate insiders.

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Watsco Company Profile

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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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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