Watsco, Inc. (NYSE:WSO) Shares Sold by Vestcor Inc

Vestcor Inc decreased its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 76.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,396 shares of the construction company's stock after selling 7,635 shares during the quarter. Vestcor Inc's holdings in Watsco were worth $1,135,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WSO. J. W. Coons Advisors LLC boosted its position in Watsco by 0.7% during the third quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company's stock worth $1,475,000 after acquiring an additional 20 shares during the last quarter. My Legacy Advisors LLC boosted its position in Watsco by 3.2% during the fourth quarter. My Legacy Advisors LLC now owns 687 shares of the construction company's stock worth $329,000 after acquiring an additional 21 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its position in Watsco by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company's stock worth $567,000 after acquiring an additional 21 shares during the last quarter. Centennial Wealth Advisory LLC boosted its position 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 acquiring an additional 22 shares during the last quarter. Finally, M&T Bank Corp boosted its position 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 acquiring an additional 23 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

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Watsco Stock Performance

Shares of Watsco stock traded down $2.02 on Wednesday, reaching $507.41. The company had a trading volume of 246,614 shares, compared to its average volume of 269,483. The firm's 50 day moving average price is $491.26 and its two-hundred day moving average price is $495.86. The firm has a market cap of $20.50 billion, a PE ratio of 38.30 and a beta of 0.92. Watsco, Inc. has a 52-week low of $396.82 and a 52-week high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last announced its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. As a group, sell-side analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.13%. The ex-dividend date was Friday, January 17th. Watsco's dividend payout ratio (DPR) is presently 81.51%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WSO. Raymond James began coverage on shares of Watsco in a research report on Friday, January 17th. They set a "market perform" rating on the stock. Loop Capital boosted their price target on shares of Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research report on Thursday, February 27th. Northcoast Research started coverage on shares of Watsco in a research note on Friday, November 22nd. They set a "neutral" rating on the stock. Finally, Robert W. Baird lifted their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus 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.