Hilltop National Bank Has $152,000 Holdings in Watsco, Inc. (NYSE:WSO)

Hilltop National Bank cut its position in Watsco, Inc. (NYSE:WSO) by 7.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 321 shares of the construction company’s stock after selling 27 shares during the quarter. Hilltop National Bank’s holdings in Watsco were worth $152,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. First Hawaiian Bank grew its stake in Watsco by 1.0% in the 4th quarter. First Hawaiian Bank now owns 4,435 shares of the construction company’s stock valued at $2,102,000 after buying an additional 46 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Watsco in the 4th quarter valued at $445,000. GAMMA Investing LLC grew its stake in Watsco by 8.8% in the 4th quarter. GAMMA Investing LLC now owns 534 shares of the construction company’s stock valued at $253,000 after buying an additional 43 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Watsco by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company’s stock valued at $228,263,000 after buying an additional 41,845 shares during the last quarter. Finally, Retirement Systems of Alabama grew its stake in Watsco by 7.5% in the 3rd quarter. Retirement Systems of Alabama now owns 54,408 shares of the construction company’s stock valued at $26,762,000 after buying an additional 3,813 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.86% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on WSO shares. Northcoast Research started coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Robert W. Baird reduced their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th.

Watsco Stock Performance

NYSE:WSO opened at $465.23 on Friday. The company has a 50-day moving average of $510.87 and a 200-day moving average of $491.76. The company has a market capitalization of $18.79 billion, a price-to-earnings ratio of 35.95 and a beta of 0.95. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41.

Watsco (NYSE:WSO) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. Watsco’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $4.35 earnings per share. Sell-side analysts forecast that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Friday, January 17th. Watsco’s payout ratio is 83.46%.

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.