Watsco, Inc. (NYSE:WSO) Shares Sold by Fmr LLC

Fmr LLC lowered its holdings in Watsco, Inc. (NYSE:WSO) by 4.2% in the fourth quarter, HoldingsChannel reports. The firm owned 3,471,241 shares of the construction company’s stock after selling 152,918 shares during the quarter. Fmr LLC owned approximately 0.09% of Watsco worth $1,644,986,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in WSO. Rialto Wealth Management LLC acquired a new position in shares of Watsco in the fourth quarter worth $31,000. Wingate Wealth Advisors Inc. acquired a new position in Watsco during the 4th quarter worth $36,000. Quarry LP increased its holdings in Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after purchasing an additional 33 shares during the period. Atala Financial Inc acquired a new stake in Watsco in the 4th quarter valued at about $49,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Watsco in the 4th quarter valued at about $50,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on WSO shares. Raymond James started coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating on the stock. Loop Capital raised their price objective on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. Finally, Robert W. Baird lifted their price objective on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Watsco currently has a consensus rating of “Hold” and an average target price of $486.25.

Watsco Stock Down 3.0 %

Shares of Watsco stock opened at $477.78 on Monday. Watsco, Inc. has a 52 week low of $396.82 and a 52 week high of $571.42. The firm’s 50 day moving average is $496.34 and its two-hundred day moving average is $499.43. The firm has a market capitalization of $19.30 billion, a P/E ratio of 36.06 and a beta of 1.00.

Watsco (NYSE:WSO) last posted its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.24. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. As a group, research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a $3.00 dividend. This is an increase from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Tuesday, April 15th. Watsco’s dividend payout ratio is presently 81.51%.

Watsco Profile

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.