Mercer Global Advisors Inc. ADV trimmed its position in Watsco, Inc. (NYSE:WSO - Free Report) by 25.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,797 shares of the construction company's stock after selling 945 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Watsco were worth $1,325,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Tidal Investments LLC raised its position in shares of Watsco by 3.1% during the third quarter. Tidal Investments LLC now owns 2,269 shares of the construction company's stock worth $1,116,000 after acquiring an additional 69 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Watsco by 5.6% in the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company's stock valued at $25,645,000 after purchasing an additional 2,738 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Watsco by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company's stock valued at $228,263,000 after purchasing an additional 41,845 shares during the last quarter. First Hawaiian Bank increased its position in shares of Watsco by 1.0% during the 4th quarter. First Hawaiian Bank now owns 4,435 shares of the construction company's stock valued at $2,102,000 after purchasing an additional 46 shares during the last quarter. Finally, Fulcrum Capital LLC raised its position in Watsco by 8.4% in the fourth quarter. Fulcrum Capital LLC now owns 671 shares of the construction company's stock worth $318,000 after acquiring an additional 52 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have recently issued reports on WSO. Robert W. Baird dropped their price target on Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Morgan Stanley initiated coverage on Watsco in a report on Monday, April 14th. They issued an "equal weight" rating and a $515.00 price target on the stock. StockNews.com raised Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. UBS Group cut their price target on Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, Raymond James started coverage on shares of Watsco in a research note on Friday, January 17th. They set a "market perform" rating for the company. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $480.83.
Read Our Latest Research Report on WSO
Watsco Price Performance
Shares of WSO traded down $1.31 during midday trading on Wednesday, reaching $479.98. 52,527 shares of the stock were exchanged, compared to its average volume of 253,227. The company has a market capitalization of $19.39 billion, a price-to-earnings ratio of 36.22 and a beta of 1.11. Watsco, Inc. has a twelve month low of $439.08 and a twelve month high of $571.42. The business's 50-day moving average price is $491.66 and its 200 day moving average price is $497.17.
Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.36). Watsco had a net margin of 7.04% and a return on equity of 17.59%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the business earned $2.17 EPS. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities 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 announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were paid a $3.00 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. 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 2.50%. Watsco's dividend payout ratio is 92.24%.
Watsco Company Profile
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Free Report)
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.
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