Watsco, Inc. (NYSE:WSO) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC trimmed its stake in shares of Watsco, Inc. (NYSE:WSO) by 1.6% in the fourth quarter, Holdings Channel reports. The fund owned 1,375 shares of the construction company’s stock after selling 23 shares during the period. Parallel Advisors LLC’s holdings in Watsco were worth $652,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. My Legacy Advisors LLC lifted its position in Watsco by 3.2% during the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock worth $329,000 after acquiring an additional 21 shares during the period. Avidian Wealth Enterprises LLC lifted its holdings in shares of Watsco by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock valued at $567,000 after buying an additional 21 shares during the period. Centennial Wealth Advisory LLC lifted its holdings in shares of Watsco by 3.0% in the 4th quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock valued at $358,000 after buying an additional 22 shares during the period. M&T Bank Corp lifted its holdings in shares of Watsco by 1.4% in the 4th quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock valued at $799,000 after buying an additional 23 shares during the period. Finally, Principal Securities Inc. lifted its holdings in shares of Watsco by 6.9% in the 4th quarter. Principal Securities Inc. now owns 373 shares of the construction company’s stock valued at $177,000 after buying an additional 24 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Price Performance

NYSE WSO opened at $502.84 on Friday. Watsco, Inc. has a 1-year low of $396.82 and a 1-year high of $571.42. The company has a market capitalization of $20.32 billion, a P/E ratio of 37.95 and a beta of 0.92. The business has a 50 day moving average price of $492.81 and a 200 day moving average price of $495.99.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.24. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is 81.51%.

Analyst Upgrades and Downgrades

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

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.