Corient Private Wealth LLC Sells 7,234 Shares of Watsco, Inc. (NYSE:WSO)

Corient Private Wealth LLC decreased its position in Watsco, Inc. (NYSE:WSO - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 157,818 shares of the construction company's stock after selling 7,234 shares during the period. Corient Private Wealth LLC owned 0.39% of Watsco worth $74,789,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in WSO. Assetmark Inc. boosted its holdings in Watsco by 6.4% during the third quarter. Assetmark Inc. now owns 612 shares of the construction company's stock worth $301,000 after buying an additional 37 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Watsco by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company's stock worth $31,853,000 after buying an additional 1,074 shares during the last quarter. Metis Global Partners LLC bought a new position in Watsco during the third quarter worth about $212,000. CIBC Asset Management Inc boosted its holdings in Watsco by 4.4% during the third quarter. CIBC Asset Management Inc now owns 2,083 shares of the construction company's stock worth $1,025,000 after buying an additional 87 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in Watsco by 4.2% during the third quarter. Empowered Funds LLC now owns 5,031 shares of the construction company's stock worth $2,475,000 after buying an additional 201 shares during the last quarter. Institutional investors own 89.71% of the company's stock.

Watsco Stock Performance

Watsco stock traded down $5.24 during midday trading on Thursday, reaching $502.84. The stock had a trading volume of 239,235 shares, compared to its average volume of 246,698. The firm's fifty day simple moving average is $492.08 and its 200-day simple moving average is $495.94. Watsco, Inc. has a 1-year low of $396.82 and a 1-year high of $571.42. The stock has a market capitalization of $20.32 billion, a P/E ratio of 37.95 and a beta of 0.92.

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Watsco (NYSE:WSO - Get Free Report) last announced its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.24. The business had revenue of $1.75 billion for 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, sell-side analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared 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 was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.15%. Watsco's dividend payout ratio is 81.51%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Raymond James assumed coverage on Watsco in a report on Friday, January 17th. They set a "market perform" rating on the stock. Loop Capital raised their price target on Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research report on Thursday, February 27th. Northcoast Research began coverage on Watsco in a research report on Friday, November 22nd. They set a "neutral" rating on the stock. Finally, Robert W. Baird raised their price target on Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company 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.