Compass Ion Advisors LLC Cuts Stock Position in Watsco, Inc. (NYSE:WSO)

Compass Ion Advisors LLC decreased its position in shares of Watsco, Inc. (NYSE:WSO) by 4.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 898 shares of the construction company’s stock after selling 37 shares during the period. Compass Ion Advisors LLC’s holdings in Watsco were worth $426,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Rialto Wealth Management LLC acquired a new stake in shares of 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. Quarry LP lifted its holdings in Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after buying an additional 33 shares in the last quarter. Brooklyn Investment Group purchased a new position in Watsco in the 3rd quarter valued at approximately $48,000. Finally, Atala Financial Inc acquired a new position in shares of Watsco in the fourth quarter worth $49,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Watsco Price Performance

Watsco stock opened at $507.41 on Thursday. The stock has a market cap of $20.50 billion, a PE ratio of 38.30 and a beta of 0.92. The stock’s fifty day moving average is $492.08 and its two-hundred day moving average is $495.94. Watsco, Inc. has a 1-year low of $396.82 and a 1-year high of $571.42.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. On average, research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is 81.51%.

About Watsco

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.