TimesSquare Capital Management LLC Sells 20,563 Shares of Watsco, Inc. (NYSE:WSO)

TimesSquare Capital Management LLC lessened its holdings in Watsco, Inc. (NYSE:WSO) by 18.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 90,340 shares of the construction company’s stock after selling 20,563 shares during the period. TimesSquare Capital Management LLC’s holdings in Watsco were worth $42,811,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. FMR LLC increased its position in Watsco by 10.6% during the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after buying an additional 346,470 shares during the period. International Assets Investment Management LLC increased its position in Watsco by 48,984.7% during the 3rd quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock worth $114,924,000 after buying an additional 233,167 shares during the period. Benjamin Edwards Inc. increased its position in Watsco by 2,128.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock worth $52,880,000 after buying an additional 102,640 shares during the period. State Street Corp increased its position in Watsco by 5.9% during the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock worth $577,350,000 after buying an additional 65,846 shares during the period. Finally, Geode Capital Management LLC increased its position in Watsco by 9.9% during the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock worth $345,783,000 after buying an additional 63,254 shares during the period. Institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on WSO. Northcoast Research began coverage on Watsco in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Raymond James assumed coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating on the stock. Finally, Robert W. Baird reduced their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $488.33.

Watsco Stock Performance

WSO opened at $530.16 on Wednesday. The firm has a market cap of $21.41 billion, a P/E ratio of 40.97 and a beta of 0.95. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41. The business’s fifty day moving average is $484.96 and its 200-day moving average is $491.61.

Watsco (NYSE:WSO) last released its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.24. Watsco had a return on equity of 17.77% and a net margin of 6.99%. On average, research analysts predict that Watsco, Inc. will post 13.03 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.04%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

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 document filed with the SEC, which can be accessed through the SEC website. 12.86% of the stock is currently owned by insiders.

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.