TimesSquare Capital Management LLC Has $42.81 Million Holdings in Watsco, Inc. (NYSE:WSO)

TimesSquare Capital Management LLC lessened its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 18.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90,340 shares of the construction company's stock after selling 20,563 shares during the quarter. TimesSquare Capital Management LLC owned 0.22% of Watsco worth $42,811,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Wingate Wealth Advisors Inc. acquired a new stake in Watsco during the fourth quarter worth approximately $36,000. Ashton Thomas Securities LLC acquired a new stake in Watsco during the third quarter worth approximately $43,000. Quarry LP grew its position in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company's stock worth $44,000 after buying an additional 33 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Watsco during the third quarter worth approximately $48,000. Finally, Golden State Wealth Management LLC acquired a new stake in Watsco during the fourth quarter worth approximately $50,000. Institutional investors own 89.71% of the company's stock.

Analysts Set New Price Targets

WSO has been the topic of a number of analyst reports. Northcoast Research initiated coverage on Watsco in a research report on Friday, November 22nd. They set a "neutral" rating on the stock. Raymond James initiated coverage on Watsco in a research report on Friday, January 17th. They set a "market perform" rating on the stock. Finally, Robert W. Baird increased their price target on Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $495.00.

Watsco Stock Down 3.3 %

Shares of WSO stock traded down $17.09 during trading hours on Friday, reaching $498.12. The company's stock had a trading volume of 286,029 shares, compared to its average volume of 248,613. The firm's 50 day simple moving average is $484.75 and its 200-day simple moving average is $492.16. The company has a market capitalization of $20.11 billion, a price-to-earnings ratio of 37.59 and a beta of 0.95. Watsco, Inc. has a fifty-two week low of $380.58 and a fifty-two week high of $571.41.

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 for the quarter, beating the consensus estimate of $2.13 by $0.24. The company had revenue of $1.75 billion for 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 predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.17%. Watsco's dividend payout ratio (DPR) is presently 81.51%.

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.86% of the stock is owned by corporate insiders.

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.