Franklin Resources Inc. Trims Stake in Watsco, Inc. (NYSE:WSO)

Franklin Resources Inc. reduced its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,916 shares of the construction company's stock after selling 1,674 shares during the quarter. Franklin Resources Inc. owned approximately 0.12% of Watsco worth $23,655,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Raymond James assumed coverage on Watsco in a report on Friday, January 17th. They issued a "market perform" rating on the stock. Robert W. Baird upped 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, 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 assigned a buy rating to the company. According to data from MarketBeat, Watsco has a consensus rating of "Hold" and an average price target of $486.25.

Watsco Trading Up 2.1 %

Shares of WSO stock traded up $10.63 on Friday, reaching $509.76. The company's stock had a trading volume of 214,485 shares, compared to its average volume of 254,309. The stock's fifty day simple moving average is $496.96 and its 200-day simple moving average is $498.92. Watsco, Inc. has a 1 year low of $396.82 and a 1 year high of $571.42. The company has a market capitalization of $20.60 billion, a price-to-earnings ratio of 38.47 and a beta of 1.00.

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

Watsco Increases Dividend

The business also recently disclosed 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 of this dividend is Tuesday, April 15th. This is an increase from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a yield of 2.35%. Watsco's dividend payout ratio is 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.