Watsco, Inc. (NYSE:WSO) Shares Sold by Grace & White Inc. NY

Grace & White Inc. NY decreased its holdings in Watsco, Inc. (NYSE:WSO) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,625 shares of the construction company’s stock after selling 225 shares during the quarter. Watsco accounts for approximately 3.2% of Grace & White Inc. NY’s holdings, making the stock its 7th biggest holding. Grace & White Inc. NY owned 0.11% of Watsco worth $18,264,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. bought a new stake in shares of Watsco in the 4th quarter worth about $25,000. Contravisory Investment Management Inc. bought a new stake in shares of Watsco in the 4th quarter worth about $26,000. Rise Advisors LLC bought a new stake in shares of Watsco in the 4th quarter worth about $30,000. BKM Wealth Management LLC bought a new stake in shares of Watsco in the 4th quarter worth about $32,000. Finally, Hartford Financial Management Inc. grew its holdings in shares of Watsco by 53.1% in the 4th quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock worth $32,000 after purchasing an additional 26 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Trading Up 1.8 %

Watsco stock traded up $7.21 during trading hours on Tuesday, reaching $413.71. 465,686 shares of the company’s stock traded hands, compared to its average volume of 341,092. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 3.36. Watsco, Inc. has a fifty-two week low of $315.17 and a fifty-two week high of $447.49. The firm has a market capitalization of $16.34 billion, a price-to-earnings ratio of 30.28 and a beta of 0.89. The firm’s 50 day moving average is $408.54 and its 200-day moving average is $398.65.

Watsco (NYSE:WSO) last released its earnings results on Tuesday, February 13th. The construction company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.44). Watsco had a net margin of 7.36% and a return on equity of 21.36%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the company posted $2.35 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, analysts predict that Watsco, Inc. will post 14.19 earnings per share for the current year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.61%. This is an increase from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date of this dividend is Friday, April 12th. Watsco’s dividend payout ratio (DPR) is currently 79.06%.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird upped their target price on shares of Watsco from $400.00 to $410.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Watsco has an average rating of “Hold” and a consensus target price of $398.00.

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.