Hsbc Holdings PLC Sells 15,676 Shares of Watsco, Inc. $WSO

Hsbc Holdings PLC trimmed its stake in shares of Watsco, Inc. (NYSE:WSO) by 59.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,481 shares of the construction company’s stock after selling 15,676 shares during the period. Hsbc Holdings PLC’s holdings in Watsco were worth $3,539,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WSO. Torren Management LLC bought a new position in Watsco during the 4th quarter worth about $26,000. Bayban bought a new position in shares of Watsco during the fourth quarter worth about $29,000. Bamco Inc. NY bought a new position in shares of Watsco during the fourth quarter worth about $35,000. Laurel Wealth Advisors LLC acquired a new stake in Watsco in the 4th quarter valued at approximately $37,000. Finally, Quarry LP acquired a new stake in Watsco in the 4th quarter valued at approximately $37,000. 89.71% of the stock is owned by institutional investors.

Watsco Trading Down 0.2%

Shares of NYSE WSO opened at $410.11 on Monday. Watsco, Inc. has a 12 month low of $323.05 and a 12 month high of $494.94. The stock has a 50 day moving average of $401.38 and a 200-day moving average of $387.88. The company has a market capitalization of $16.67 billion, a P/E ratio of 34.03 and a beta of 1.05.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, April 28th. The construction company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.14. Watsco had a return on equity of 15.31% and a net margin of 6.85%.The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the business earned $1.93 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Analysts predict that Watsco, Inc. will post 12.66 EPS for the current fiscal year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th were issued a $3.30 dividend. This is an increase from Watsco’s previous quarterly dividend of $3.00. This represents a $13.20 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Thursday, April 16th. Watsco’s dividend payout ratio is presently 109.54%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WSO. DA Davidson assumed coverage on Watsco in a research report on Tuesday, June 16th. They set a “neutral” rating and a $385.00 price target for the company. Stephens boosted their price objective on shares of Watsco from $475.00 to $485.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen upgraded shares of Watsco from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. One investment analyst has rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Watsco has a consensus rating of “Hold” and an average price target of $397.71.

About Watsco

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.