Watsco, Inc. (NYSE:WSO) Shares Sold by Barclays PLC

Barclays PLC cut its holdings in Watsco, Inc. (NYSE:WSO) by 38.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 237,647 shares of the construction company’s stock after selling 146,765 shares during the quarter. Barclays PLC’s holdings in Watsco were worth $112,619,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WSO. Franklin Resources Inc. raised its position in Watsco by 5.6% during the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock worth $25,645,000 after acquiring an additional 2,738 shares during the period. JPMorgan Chase & Co. raised its position in shares of Watsco by 9.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company’s stock worth $228,263,000 after purchasing an additional 41,845 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Watsco in the 4th quarter valued at about $10,446,000. AEGON ASSET MANAGEMENT UK Plc boosted its holdings in Watsco by 15.1% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 139,157 shares of the construction company’s stock worth $65,966,000 after buying an additional 18,279 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its stake in Watsco by 1.3% during the 4th quarter. Conestoga Capital Advisors LLC now owns 97,832 shares of the construction company’s stock worth $46,362,000 after buying an additional 1,300 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Down 0.8 %

Shares of WSO opened at $510.65 on Wednesday. Watsco, Inc. has a 52-week low of $396.82 and a 52-week high of $571.42. The stock has a fifty day simple moving average of $498.55 and a two-hundred day simple moving average of $499.13. The company has a market capitalization of $20.63 billion, a PE ratio of 38.54 and a beta of 1.00.

Watsco (NYSE:WSO) last issued its earnings results 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 company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. As a group, equities analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a $3.00 dividend. The ex-dividend date of this dividend 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 yield of 2.35%. Watsco’s dividend payout ratio is currently 90.57%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WSO. Robert W. Baird lifted 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. Loop Capital lifted their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday, February 27th. Raymond James started coverage on shares of Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Finally, Morgan Stanley started coverage on shares of Watsco in a research note on Monday. They issued an “equal weight” rating and a $515.00 price target on the stock. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $492.00.

Watsco 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.