By otakuyassine3@gmail.com 
Cerity Partners LLC reduced its stake in shares of Watsco, Inc. (NYSE:WSO – Free Report) by 19.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,580 shares of the construction company’s stock after selling 2,052 shares during the quarter. Cerity Partners LLC’s holdings in Watsco were worth $4,161,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. My Legacy Advisors LLC grew 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 last quarter. Avidian Wealth Enterprises LLC grew its holdings in shares of Watsco by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock worth $567,000 after purchasing an additional 21 shares during the last quarter. Centennial Wealth Advisory LLC increased its stake in shares of Watsco by 3.0% in the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock worth $358,000 after buying an additional 22 shares during the period. M&T Bank Corp raised its holdings in Watsco by 1.4% during 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 last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Watsco by 0.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company’s stock valued at $3,645,000 after buying an additional 23 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.
Watsco Stock Performance
Shares of NYSE:WSO opened at $509.76 on Monday. The firm has a market capitalization of $20.60 billion, a P/E ratio of 38.47 and a beta of 1.00. The stock has a 50 day moving average price of $496.96 and a 200-day moving average price of $498.91. Watsco, Inc. has a 52-week low of $396.82 and a 52-week high of $571.42.
Watsco (NYSE:WSO – Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.13 by $0.24. The business had revenue of $1.75 billion during 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, equities analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.
Watsco Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Tuesday, April 15th. This is a boost from Watsco’s previous quarterly dividend of $2.70. Watsco’s dividend payout ratio is 90.57%.
Analysts Set New Price Targets
Several equities analysts have recently commented on WSO shares. Robert W. Baird upped their price objective on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Raymond James began coverage on Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Finally, 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. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Watsco currently has an average rating of “Hold” and a consensus target price of $486.25.
Get Our Latest Stock Report on WSO
Watsco Company 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.
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