Aigen Investment Management LP trimmed its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 55.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 500 shares of the construction company's stock after selling 635 shares during the quarter. Aigen Investment Management LP's holdings in Watsco were worth $237,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank boosted its stake in Watsco by 32.2% during the 3rd quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company's stock valued at $2,094,000 after purchasing an additional 1,038 shares during the period. Citizens Financial Group Inc. RI grew its holdings in Watsco by 40.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company's stock worth $1,582,000 after buying an additional 929 shares in the last quarter. Larson Financial Group LLC increased its position in Watsco by 3,571.0% in the 3rd quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company's stock valued at $560,000 after acquiring an additional 1,107 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in Watsco by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company's stock worth $31,853,000 after acquiring an additional 1,074 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Watsco by 5.6% in the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company's stock worth $25,645,000 after purchasing an additional 2,738 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.
Watsco Trading Up 0.7 %
Shares of NYSE WSO traded up $3.67 during midday trading on Wednesday, reaching $509.16. The company's stock had a trading volume of 34,433 shares, compared to its average volume of 269,389. The company has a market cap of $20.56 billion, a price-to-earnings ratio of 38.26 and a beta of 0.92. Watsco, Inc. has a one year low of $393.88 and a one year high of $571.41. The company has a 50 day moving average price of $487.87 and a 200 day moving average price of $494.76.
Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating analysts' consensus estimates of $2.13 by $0.24. The company had revenue of $1.75 billion during 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%. Research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.
Watsco Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a dividend of $2.70 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.12%. Watsco's dividend payout ratio (DPR) is presently 81.51%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on WSO shares. Loop Capital increased their target price on shares of Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research report on Thursday, February 27th. Northcoast Research assumed coverage on shares of Watsco in a report on Friday, November 22nd. They issued a "neutral" rating for the company. Raymond James started coverage on Watsco in a 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 company an "outperform" rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Watsco has an average rating of "Hold" and a consensus price target of $486.25.
Read Our Latest Research Report on WSO
Insider Activity at Watsco
In related news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.86% of the company's stock.
Watsco Profile
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Free Report)
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.
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