Watsco, Inc. (NYSE:WSO) Shares Sold by Johnson Financial Group Inc.

Johnson Financial Group Inc. trimmed its holdings in Watsco, Inc. (NYSE:WSO) by 74.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 844 shares of the construction company’s stock after selling 2,498 shares during the quarter. Johnson Financial Group Inc.’s holdings in Watsco were worth $404,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. grew its position in Watsco by 5.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 5,727 shares of the construction company’s stock valued at $2,714,000 after buying an additional 306 shares during the period. Capital Analysts LLC grew its position in shares of Watsco by 8.4% during the 4th quarter. Capital Analysts LLC now owns 2,128 shares of the construction company’s stock valued at $1,009,000 after acquiring an additional 165 shares during the period. Two Sigma Securities LLC increased its stake in shares of Watsco by 170.1% in the 4th quarter. Two Sigma Securities LLC now owns 1,753 shares of the construction company’s stock valued at $831,000 after purchasing an additional 1,104 shares in the last quarter. Nebula Research & Development LLC increased its stake in shares of Watsco by 1,392.8% in the 4th quarter. Nebula Research & Development LLC now owns 8,091 shares of the construction company’s stock valued at $3,834,000 after purchasing an additional 7,549 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Watsco in the 4th quarter worth about $104,533,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Price Performance

WSO stock opened at $455.46 on Friday. Watsco, Inc. has a 1 year low of $439.08 and a 1 year high of $571.42. The firm has a market capitalization of $18.40 billion, a PE ratio of 34.37 and a beta of 1.00. The business has a 50 day simple moving average of $498.87 and a 200-day simple moving average of $498.72.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.36). Watsco had a net margin of 7.04% and a return on equity of 17.59%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the company earned $2.17 earnings per share. On average, equities research analysts expect that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be given a dividend of $3.00 per share. This is a boost from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a yield of 2.63%. The ex-dividend date is Tuesday, April 15th. Watsco’s dividend payout ratio (DPR) is presently 90.57%.

Analysts Set New Price Targets

WSO has been the topic of a number of research analyst reports. Morgan Stanley initiated coverage on shares of Watsco in a research note on Monday, April 14th. They issued an “equal weight” rating and a $515.00 price target on the stock. Mizuho set a $490.00 target price on shares of Watsco in a research report on Thursday. Raymond James began coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Robert W. Baird lowered their price objective on Watsco from $560.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, StockNews.com lowered Watsco from a “hold” rating to a “sell” rating in a research note on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $480.83.

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.