Hsbc Holdings PLC Has $15.14 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

Hsbc Holdings PLC lowered its holdings in shares of Watsco, Inc. (NYSE:WSO) by 17.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,918 shares of the construction company’s stock after selling 6,855 shares during the period. Hsbc Holdings PLC owned about 0.08% of Watsco worth $15,142,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of WSO. Rialto Wealth Management LLC bought a new stake in shares of Watsco during the fourth quarter worth $31,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Watsco during the 4th quarter valued at $36,000. Atala Financial Inc bought a new stake in Watsco during the 4th quarter worth $49,000. Golden State Wealth Management LLC acquired a new position in Watsco in the 4th quarter worth about $50,000. Finally, Tortoise Investment Management LLC raised its position in Watsco by 76.2% in the fourth quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company’s stock valued at $70,000 after purchasing an additional 64 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Up 0.5 %

WSO stock opened at $455.46 on Monday. The company’s fifty day simple moving average is $498.87 and its 200 day simple moving average is $498.82. Watsco, Inc. has a 12-month low of $439.08 and a 12-month high of $571.42. The firm has a market cap of $18.40 billion, a price-to-earnings ratio of 34.37 and a beta of 1.00.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.36). Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the firm earned $2.17 earnings per share. Research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.63%. This is a boost from Watsco’s previous quarterly dividend of $2.70. The ex-dividend date is Tuesday, April 15th. Watsco’s dividend payout ratio is presently 92.24%.

Analyst Upgrades and Downgrades

WSO has been the topic of several research reports. Mizuho set a $490.00 price target on Watsco in a report on Thursday. Loop Capital boosted their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a report on Thursday, February 27th. Morgan Stanley started coverage on shares of Watsco in a research report on Monday, April 14th. They issued an “equal weight” rating and a $515.00 price target for the company. Raymond James initiated coverage on shares of Watsco in a report on Friday, January 17th. They set a “market perform” rating on the stock. Finally, StockNews.com downgraded Watsco from a “hold” rating to a “sell” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $480.83.

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.