Sei Investments Co. Sells 5,696 Shares of Watsco, Inc. (NYSE:WSO)

Sei Investments Co. lowered its holdings in Watsco, Inc. (NYSE:WSO) by 10.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,596 shares of the construction company’s stock after selling 5,696 shares during the period. Sei Investments Co. owned approximately 0.12% of Watsco worth $22,082,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new stake in Watsco during the fourth quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Watsco during the 4th quarter valued at $36,000. Quarry LP lifted its holdings in shares of Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after acquiring an additional 33 shares during the last quarter. Brooklyn Investment Group purchased a new position in Watsco in the third quarter worth $48,000. Finally, Atala Financial Inc bought a new position in Watsco in the fourth quarter valued at $49,000. Institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

Shares of WSO stock opened at $513.40 on Thursday. The business has a 50-day moving average of $495.56 and a 200 day moving average of $497.75. The stock has a market capitalization of $20.74 billion, a PE ratio of 38.75 and a beta of 0.92. Watsco, Inc. has a 1-year low of $396.82 and a 1-year high of $571.42.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is 81.51%.

Wall Street Analyst Weigh In

WSO has been the subject of several research analyst reports. Raymond James initiated coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating for the company. Loop Capital upped their target price on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday, February 27th. Finally, Robert W. Baird lifted their price target on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Watsco presently has an average rating of “Hold” and a consensus target price of $486.25.

Watsco Company 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.