Benjamin Edwards Inc. Decreases Stock Position in Watsco, Inc. (NYSE:WSO)

Benjamin Edwards Inc. trimmed its position in Watsco, Inc. (NYSE:WSO) by 14.3% during the 4th quarter, HoldingsChannel reports. The firm owned 5,385 shares of the construction company’s stock after selling 898 shares during the quarter. Benjamin Edwards Inc.’s holdings in Watsco were worth $2,307,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Hartford Financial Management Inc. increased its position in Watsco by 53.1% in the fourth quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock worth $32,000 after purchasing an additional 26 shares during the last quarter. Advisor OS LLC raised its position in shares of Watsco by 1.1% during the 3rd quarter. Advisor OS LLC now owns 2,693 shares of the construction company’s stock valued at $1,017,000 after buying an additional 28 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Watsco by 35.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company’s stock valued at $41,000 after acquiring an additional 28 shares during the last quarter. Lindbrook Capital LLC grew its position in Watsco by 53.8% in the fourth quarter. Lindbrook Capital LLC now owns 80 shares of the construction company’s stock worth $34,000 after acquiring an additional 28 shares in the last quarter. Finally, Allworth Financial LP increased its stake in Watsco by 44.1% during the fourth quarter. Allworth Financial LP now owns 98 shares of the construction company’s stock worth $42,000 after acquiring an additional 30 shares during the last quarter. 89.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Stephens restated an “overweight” rating and issued a $500.00 price target on shares of Watsco in a research report on Thursday, April 25th. Robert W. Baird lifted their price target on shares of Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $404.25.

Watsco Stock Down 0.2 %

Shares of WSO traded down $1.10 during midday trading on Thursday, reaching $449.61. 78,097 shares of the stock were exchanged, compared to its average volume of 342,185. The company has a current ratio of 2.92, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $416.50 and its two-hundred day moving average is $400.91. The company has a market capitalization of $17.76 billion, a P/E ratio of 34.69 and a beta of 0.86. Watsco, Inc. has a 52 week low of $315.17 and a 52 week high of $455.62.

Watsco (NYSE:WSO) last posted its earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). Watsco had a net margin of 7.03% and a return on equity of 19.26%. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period last year, the business posted $2.83 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, sell-side analysts anticipate that Watsco, Inc. will post 14.25 earnings per share for the current year.

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were issued a dividend of $2.70 per share. The ex-dividend date was Friday, April 12th. This represents a $10.80 dividend on an annualized basis and a yield of 2.40%. This is a positive change from Watsco’s previous quarterly dividend of $2.45. Watsco’s dividend payout ratio is currently 83.08%.

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.