Amundi cut its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,035 shares of the construction company's stock after selling 1,233 shares during the period. Amundi owned approximately 0.06% of Watsco worth $11,681,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Rialto Wealth Management LLC bought a new stake in Watsco during the fourth quarter valued at about $31,000. Edgestream Partners L.P. lifted its stake in shares of Watsco by 390.3% in the fourth quarter. Edgestream Partners L.P. now owns 12,915 shares of the construction company's stock valued at $6,120,000 after buying an additional 10,281 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Watsco in the fourth quarter valued at about $258,000. Callan Family Office LLC bought a new stake in shares of Watsco in the fourth quarter valued at about $399,000. Finally, Vestmark Advisory Solutions Inc. lifted its stake in shares of Watsco by 3.4% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 11,640 shares of the construction company's stock valued at $5,516,000 after buying an additional 383 shares during the period. 89.71% of the stock is currently owned by institutional investors.
Watsco Price Performance
Shares of WSO stock traded down $2.04 during trading hours on Tuesday, hitting $508.71. 148,986 shares of the company's stock were exchanged, compared to its average volume of 247,921. The stock's 50-day moving average is $490.37 and its 200-day moving average is $495.62. The stock has a market cap of $20.55 billion, a price-to-earnings ratio of 38.39 and a beta of 0.92. Watsco, Inc. has a 52 week low of $396.82 and a 52 week high of $571.42.
Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. Equities research analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.
Watsco Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Friday, January 17th. Watsco's dividend payout ratio is 81.51%.
Insider Activity at Watsco
In related news, EVP Barry S. Logan sold 10,998 shares of the firm's stock in a transaction dated 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 legal filing with the SEC, which is accessible through this link. 12.86% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
WSO has been the subject of a number of analyst reports. Raymond James started coverage on shares of Watsco in a research note on Friday, January 17th. They set a "market perform" rating for the company. Robert W. Baird upped their price target on Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Northcoast Research began coverage on Watsco in a research note on Friday, November 22nd. They set a "neutral" rating for the company. Finally, Loop Capital increased their price objective on Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research note on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $486.25.
Read Our Latest Analysis on WSO
About Watsco
(
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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