Watsco, Inc. (NYSE:WSO) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC reduced its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 29.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,464 shares of the construction company's stock after selling 22,083 shares during the period. William Blair Investment Management LLC owned about 0.13% of Watsco worth $24,862,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of WSO. Metis Global Partners LLC purchased a new position in shares of Watsco during the third quarter worth $212,000. CIBC Asset Management Inc boosted its holdings in Watsco by 4.4% in the third quarter. CIBC Asset Management Inc now owns 2,083 shares of the construction company's stock valued at $1,025,000 after purchasing an additional 87 shares during the period. Empowered Funds LLC boosted its holdings in Watsco by 4.2% in the third quarter. Empowered Funds LLC now owns 5,031 shares of the construction company's stock valued at $2,475,000 after purchasing an additional 201 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Watsco by 0.5% in the third quarter. Thrivent Financial for Lutherans now owns 39,894 shares of the construction company's stock valued at $19,623,000 after purchasing an additional 215 shares during the period. Finally, Swiss National Bank boosted its holdings in Watsco by 2.7% in the third quarter. Swiss National Bank now owns 103,144 shares of the construction company's stock valued at $50,734,000 after purchasing an additional 2,700 shares during the period. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

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Watsco Stock Performance

NYSE WSO traded down $6.44 during trading on Friday, reaching $495.89. 453,476 shares of the company's stock were exchanged, compared to its average volume of 246,701. The stock has a market cap of $20.04 billion, a P/E ratio of 37.43 and a beta of 0.92. The company has a 50 day moving average price of $493.43 and a two-hundred day moving average price of $496.13. Watsco, Inc. has a 1 year low of $396.82 and a 1 year high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping 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 forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, January 17th. Watsco's dividend payout ratio (DPR) is currently 81.51%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WSO. Raymond James began coverage on Watsco in a report on Friday, January 17th. They issued a "market perform" rating for the company. Loop Capital lifted their target price on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a report on Thursday, February 27th. Northcoast Research began coverage on Watsco in a report on Friday, November 22nd. They issued a "neutral" rating for the company. Finally, Robert W. Baird lifted their target price on Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $486.25.

Watsco Company 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.