Gulf International Bank UK Ltd Has $1.24 Million Stake in Watsco, Inc. (NYSE:WSO)

Gulf International Bank UK Ltd trimmed its stake in shares of Watsco, Inc. (NYSE:WSO) by 0.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,617 shares of the construction company’s stock after selling 24 shares during the period. Gulf International Bank UK Ltd’s holdings in Watsco were worth $1,240,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WSO. State of Alaska Department of Revenue lifted its position in shares of Watsco by 16.1% during the third quarter. State of Alaska Department of Revenue now owns 4,037 shares of the construction company’s stock worth $1,985,000 after purchasing an additional 560 shares in the last quarter. abrdn plc raised its stake in shares of Watsco by 1.2% during the third quarter. abrdn plc now owns 14,996 shares of the construction company’s stock worth $7,378,000 after buying an additional 172 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in shares of Watsco by 8.0% during the third quarter. First Trust Direct Indexing L.P. now owns 1,888 shares of the construction company’s stock worth $929,000 after buying an additional 140 shares during the last quarter. HM Payson & Co. raised its stake in shares of Watsco by 83.0% during the third quarter. HM Payson & Co. now owns 410 shares of the construction company’s stock worth $202,000 after buying an additional 186 shares during the last quarter. Finally, Stephens Inc. AR raised its stake in shares of Watsco by 6.9% during the third quarter. Stephens Inc. AR now owns 902 shares of the construction company’s stock worth $444,000 after buying an additional 58 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Northcoast Research assumed coverage on shares of Watsco in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Robert W. Baird boosted their price target 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. Loop Capital boosted their price target on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Raymond James assumed coverage on shares of Watsco in a research note on Friday, January 17th. They set a “market perform” rating for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $486.25.

Insider Activity

In other news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.86% of the company’s stock.

Watsco Stock Performance

Shares of NYSE:WSO opened at $503.80 on Friday. Watsco, Inc. has a 52 week low of $388.47 and a 52 week high of $571.41. The company has a market capitalization of $20.34 billion, a PE ratio of 38.02 and a beta of 0.95. The company has a 50 day moving average price of $485.23 and a two-hundred day moving average price of $493.42.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.67 billion. On average, sell-side analysts forecast 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 issued a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is presently 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.