Advisors Asset Management Inc. Sells 1,768 Shares of Watsco, Inc. (NYSE:WSO)

Advisors Asset Management Inc. reduced its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 14.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,316 shares of the construction company's stock after selling 1,768 shares during the quarter. Advisors Asset Management Inc.'s holdings in Watsco were worth $4,889,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. My Legacy Advisors LLC raised its position in shares of Watsco by 3.2% in the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company's stock valued at $329,000 after buying an additional 21 shares in the last quarter. Avidian Wealth Enterprises LLC increased its stake in Watsco by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company's stock valued at $567,000 after acquiring an additional 21 shares during the last quarter. Centennial Wealth Advisory LLC lifted its stake in Watsco by 3.0% during the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company's stock worth $358,000 after purchasing an additional 22 shares during the last quarter. M&T Bank Corp lifted its stake in Watsco by 1.4% during the fourth quarter. M&T Bank Corp now owns 1,686 shares of the construction company's stock worth $799,000 after purchasing an additional 23 shares during the last quarter. Finally, Principal Securities Inc. increased its stake in shares of Watsco by 6.9% in the 4th quarter. Principal Securities Inc. now owns 373 shares of the construction company's stock valued at $177,000 after purchasing an additional 24 shares during the last quarter. Institutional investors own 89.71% of the company's stock.

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Watsco Trading Up 3.1 %

WSO traded up $15.47 on Monday, reaching $512.47. The stock had a trading volume of 263,538 shares, compared to its average volume of 246,309. The company has a market capitalization of $20.71 billion, a price-to-earnings ratio of 38.68 and a beta of 0.92. Watsco, Inc. has a fifty-two week low of $396.82 and a fifty-two week high of $571.42. The firm has a 50-day moving average of $493.43 and a 200-day moving average of $496.71.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.24. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. Sell-side analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were paid a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Friday, January 17th. Watsco's payout ratio is currently 81.51%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Robert W. Baird upped their price objective on Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Raymond James started coverage on shares of Watsco in a report on Friday, January 17th. They issued a "market perform" rating for the company. Finally, 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. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $486.25.

Watsco 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.