Watsco, Inc. (NYSE:WSO) Stock Position Lowered by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its position in shares of Watsco, Inc. (NYSE:WSO) by 4.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 157,818 shares of the construction company’s stock after selling 7,234 shares during the period. Corient Private Wealth LLC’s holdings in Watsco were worth $74,789,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Catalyst Funds Management Pty Ltd acquired a new position in shares of Watsco in the 4th quarter worth approximately $995,000. Atala Financial Inc acquired a new position in Watsco in the fourth quarter worth approximately $49,000. Commonwealth Equity Services LLC increased its holdings in shares of Watsco by 0.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 13,669 shares of the construction company’s stock valued at $6,478,000 after buying an additional 108 shares in the last quarter. Impact Capital Partners LLC acquired a new stake in shares of Watsco during the 4th quarter valued at $698,000. Finally, Avantax Advisory Services Inc. boosted its stake in shares of Watsco by 0.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 4,582 shares of the construction company’s stock worth $2,171,000 after acquiring an additional 39 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.86% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

WSO has been the subject of several analyst reports. Loop Capital upped their target price on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. Northcoast Research assumed coverage on shares of Watsco in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Raymond James initiated coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Finally, Robert W. Baird boosted their price target on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Watsco presently has a consensus rating of “Hold” and an average price target of $486.25.

Watsco Price Performance

NYSE:WSO opened at $508.47 on Monday. The stock has a market cap of $20.54 billion, a PE ratio of 38.38 and a beta of 0.92. Watsco, Inc. has a fifty-two week low of $396.82 and a fifty-two week high of $571.42. The stock’s 50-day moving average is $489.58 and its two-hundred day moving average is $495.31.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. On average, equities research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is presently 81.51%.

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.