Fmr LLC Cuts Stock Position in Watsco, Inc. (NYSE:WSO)

Fmr LLC trimmed its stake in shares of Watsco, Inc. (NYSE:WSO) by 4.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,471,241 shares of the construction company’s stock after selling 152,918 shares during the period. Fmr LLC owned 8.60% of Watsco worth $1,644,986,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of WSO. My Legacy Advisors LLC lifted its stake in Watsco by 3.2% in the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock valued at $329,000 after buying an additional 21 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its position in shares of Watsco by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock valued at $567,000 after acquiring an additional 21 shares in the last quarter. Centennial Wealth Advisory LLC boosted its stake in shares of Watsco by 3.0% in the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock worth $358,000 after acquiring an additional 22 shares during the last quarter. M&T Bank Corp increased its position in shares of Watsco by 1.4% during the fourth quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock worth $799,000 after purchasing an additional 23 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Watsco by 0.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company’s stock valued at $3,645,000 after purchasing an additional 23 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

WSO stock opened at $477.78 on Monday. The firm has a market cap of $19.30 billion, a PE ratio of 36.06 and a beta of 1.00. Watsco, Inc. has a one year low of $396.82 and a one year high of $571.42. The firm’s 50 day moving average price is $496.34 and its 200-day moving average price is $499.43.

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

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be given a dividend of $3.00 per share. The ex-dividend date is Tuesday, April 15th. This is a boost from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.51%. Watsco’s dividend payout ratio (DPR) is currently 81.51%.

Analyst Upgrades and Downgrades

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

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.