Signaturefd LLC Cuts Holdings in Watsco, Inc. (NYSE:WSO)

Signaturefd LLC reduced its holdings in Watsco, Inc. (NYSE:WSO) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 593 shares of the construction company’s stock after selling 26 shares during the quarter. Signaturefd LLC’s holdings in Watsco were worth $281,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Rialto Wealth Management LLC purchased a new stake in shares of Watsco during the 4th quarter worth $31,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Watsco in the fourth quarter valued at about $36,000. Quarry LP boosted its holdings in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after buying an additional 33 shares in the last quarter. Brooklyn Investment Group acquired a new position in Watsco during the third quarter worth about $48,000. Finally, Atala Financial Inc purchased a new position in Watsco in the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WSO. Robert W. Baird boosted their price target on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Northcoast Research initiated coverage on Watsco in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Raymond James began coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Finally, Loop Capital boosted their price objective on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $486.25.

Watsco Stock Performance

Watsco stock opened at $495.89 on Friday. Watsco, Inc. has a fifty-two week low of $396.82 and a fifty-two week high of $571.42. The company has a market capitalization of $20.04 billion, a price-to-earnings ratio of 37.43 and a beta of 0.92. The stock has a fifty day moving average of $493.43 and a two-hundred day moving average of $496.13.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. On average, analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is 81.51%.

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.