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

AlphaQuest LLC lowered its position in shares of Watsco, Inc. (NYSE:WSO) by 58.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103 shares of the construction company’s stock after selling 146 shares during the period. AlphaQuest LLC’s holdings in Watsco were worth $49,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Rialto Wealth Management LLC acquired a new stake in shares of Watsco during the fourth quarter worth about $31,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Watsco during the 4th quarter worth approximately $36,000. Quarry LP grew its stake in Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after acquiring an additional 33 shares during the period. Brooklyn Investment Group purchased a new stake in Watsco in the 3rd quarter worth approximately $48,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Watsco in the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on WSO shares. Loop Capital lifted their price target on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. Raymond James began coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating on the stock. Robert W. Baird boosted their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Northcoast Research started coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $486.25.

Watsco Trading Down 1.0 %

Shares of NYSE:WSO opened at $502.84 on Friday. The company has a 50 day moving average of $492.81 and a 200-day moving average of $495.99. The firm has a market cap of $20.32 billion, a P/E ratio of 37.95 and a beta of 0.92. Watsco, Inc. has a twelve month low of $396.82 and a twelve month high of $571.42.

Watsco (NYSE:WSO) last released 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 business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. Equities research analysts forecast that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

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

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.