Caisse DE Depot ET Placement DU Quebec Sells 573 Shares of Watsco, Inc. (NYSE:WSO)

Caisse DE Depot ET Placement DU Quebec reduced its stake in Watsco, Inc. (NYSE:WSO) by 11.3% during the 3rd quarter, Holdings Channel reports. The firm owned 4,493 shares of the construction company’s stock after selling 573 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Watsco were worth $2,210,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in shares of Watsco by 168.8% in the first quarter. Janus Henderson Group PLC now owns 2,075 shares of the construction company’s stock worth $895,000 after acquiring an additional 1,303 shares during the last quarter. Tidal Investments LLC bought a new position in Watsco in the first quarter valued at $214,000. Cetera Investment Advisers boosted its position in Watsco by 209.4% during the 1st quarter. Cetera Investment Advisers now owns 8,379 shares of the construction company’s stock valued at $3,619,000 after buying an additional 5,671 shares during the period. Cetera Advisors LLC grew its stake in Watsco by 22.9% in the first quarter. Cetera Advisors LLC now owns 4,603 shares of the construction company’s stock worth $1,988,000 after purchasing an additional 857 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Watsco by 38.8% during the second quarter. GAMMA Investing LLC now owns 358 shares of the construction company’s stock valued at $166,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on WSO. Robert W. Baird reduced their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Northcoast Research assumed coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $491.25.

Watsco Trading Down 1.5 %

Shares of Watsco stock opened at $543.54 on Tuesday. The stock has a 50-day moving average price of $506.47 and a 200 day moving average price of $487.96. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41. The company has a market cap of $21.95 billion, a P/E ratio of 42.00 and a beta of 0.92.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. Watsco’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.35 earnings per share. On average, equities analysts forecast that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a dividend of $2.70 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 1.99%. Watsco’s dividend payout ratio (DPR) is 83.46%.

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.