Watsco, Inc. (NYSE:WSO) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd lowered its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 63.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 990 shares of the construction company's stock after selling 1,731 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Watsco were worth $469,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of WSO. Rialto Wealth Management LLC bought a new stake in Watsco during the fourth quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Watsco during the 4th quarter worth $36,000. Quarry LP grew its position in Watsco by 57.9% in the third quarter. Quarry LP now owns 90 shares of the construction company's stock worth $44,000 after acquiring an additional 33 shares in the last quarter. Atala Financial Inc bought a new position in Watsco in the fourth quarter valued at $49,000. Finally, Golden State Wealth Management LLC purchased a new stake in Watsco during the fourth quarter valued at about $50,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on WSO shares. Morgan Stanley began coverage on Watsco in a research report on Monday. They issued an "equal weight" rating and a $515.00 target price for the company. Raymond James assumed coverage on shares of Watsco in a research report on Friday, January 17th. They issued a "market perform" rating on the stock. Robert W. Baird upped their price target on shares of Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, 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. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $492.00.

Watsco Stock Up 1.3 %

Watsco stock traded up $6.37 during midday trading on Monday, reaching $515.30. The stock had a trading volume of 23,522 shares, compared to its average volume of 253,335. Watsco, Inc. has a 52-week low of $396.82 and a 52-week high of $571.42. The company has a fifty day moving average of $496.96 and a 200 day moving average of $498.91. The firm has a market cap of $20.82 billion, a price-to-earnings ratio of 38.89 and a beta of 1.00.

Watsco (NYSE:WSO - Get Free Report) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates 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%. Equities research analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be given a dividend of $3.00 per share. The ex-dividend date is Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a yield of 2.33%. This is a boost from Watsco's previous quarterly dividend of $2.70. Watsco's payout ratio is currently 90.57%.

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.