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

Ellevest Inc. reduced its stake in Watsco, Inc. (NYSE:WSO) by 2.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 937 shares of the construction company’s stock after selling 21 shares during the quarter. Ellevest Inc.’s holdings in Watsco were worth $444,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Rialto Wealth Management LLC purchased a new stake in Watsco during the fourth quarter worth about $31,000. Wingate Wealth Advisors Inc. purchased a new stake in Watsco during the 4th quarter worth approximately $36,000. Atala Financial Inc purchased a new stake in Watsco during the 4th quarter worth approximately $49,000. Golden State Wealth Management LLC acquired a new stake in Watsco during the 4th quarter worth approximately $50,000. Finally, Tortoise Investment Management LLC boosted its position in Watsco by 76.2% in the 4th quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company’s stock valued at $70,000 after buying an additional 64 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WSO. Morgan Stanley assumed coverage on Watsco in a research report on Monday, April 14th. They issued an “equal weight” rating and a $515.00 price target on the stock. Robert W. Baird reduced their target price on shares of Watsco from $560.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Loop Capital boosted their price target on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a report on Thursday, February 27th. Raymond James initiated coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating on the stock. Finally, StockNews.com raised shares of Watsco from a “sell” rating to a “hold” rating in a research report on Friday. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Watsco has an average rating of “Hold” and a consensus price target of $480.83.

Watsco Price Performance

Shares of NYSE:WSO opened at $476.20 on Friday. Watsco, Inc. has a 12 month low of $439.08 and a 12 month high of $571.42. The firm has a market capitalization of $19.24 billion, a P/E ratio of 35.94 and a beta of 1.11. The company’s fifty day moving average price is $492.18 and its 200 day moving average price is $496.88.

Watsco (NYSE:WSO) last posted its earnings results on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.36). The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.17 EPS. On average, sell-side analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were issued a $3.00 dividend. 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 2.52%. The ex-dividend date of this dividend was Tuesday, April 15th. Watsco’s dividend payout ratio is presently 92.24%.

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.