Access Financial Services Inc. Decreases Holdings in Watsco, Inc. (NYSE:WSO)

Access Financial Services Inc. trimmed its holdings in shares of Watsco, Inc. (NYSE:WSO) by 15.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,323 shares of the construction company’s stock after selling 594 shares during the period. Access Financial Services Inc.’s holdings in Watsco were worth $1,424,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. acquired a new position in Watsco in the 4th quarter worth $26,000. Rise Advisors LLC acquired a new position in Watsco in the 4th quarter worth $30,000. BKM Wealth Management LLC acquired a new position in Watsco in the 4th quarter worth $32,000. FNY Investment Advisers LLC acquired a new position in Watsco in the 3rd quarter worth $37,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Watsco in the 1st quarter valued at about $38,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Price Performance

NYSE WSO opened at $431.97 on Friday. Watsco, Inc. has a 52 week low of $298.79 and a 52 week high of $441.29. The company has a current ratio of 3.36, a quick ratio of 1.47 and a debt-to-equity ratio of 0.01. The stock has a market cap of $17.06 billion, a price-to-earnings ratio of 31.62, a price-to-earnings-growth ratio of 3.37 and a beta of 0.89. The company has a 50-day moving average price of $400.26 and a two-hundred day moving average price of $391.15.

Watsco (NYSE:WSO) last posted its earnings results on Tuesday, February 13th. The construction company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.44). Watsco had a return on equity of 21.36% and a net margin of 7.36%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the company posted $2.35 EPS. Watsco’s revenue for the quarter was up 1.4% on a year-over-year basis. Analysts forecast that Watsco, Inc. will post 14.26 EPS for the current year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 17th were given a $2.45 dividend. This represents a $9.80 annualized dividend and a yield of 2.27%. The ex-dividend date was Tuesday, January 16th. Watsco’s dividend payout ratio (DPR) is 71.74%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WSO. Stephens upped their target price on shares of Watsco from $450.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, December 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Watsco from a “hold” rating to a “buy” rating and upped their target price for the company from $387.00 to $500.00 in a research note on Friday, December 8th. Finally, Robert W. Baird increased their price objective on shares of Watsco from $400.00 to $410.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $396.00.

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.