Mitsubishi UFJ Trust & Banking Corp Cuts Position in Watsco, Inc. (NYSE:WSO)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Watsco, Inc. (NYSE:WSO) by 20.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 262,437 shares of the construction company’s stock after selling 67,670 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.65% of Watsco worth $124,402,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in WSO. My Legacy Advisors LLC lifted its position in shares of Watsco by 3.2% during the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock valued at $329,000 after acquiring an additional 21 shares during the period. Avidian Wealth Enterprises LLC increased its stake in Watsco by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock valued at $567,000 after purchasing an additional 21 shares in the last quarter. Centennial Wealth Advisory LLC raised its holdings in Watsco by 3.0% during the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock worth $358,000 after purchasing an additional 22 shares during the last quarter. M&T Bank Corp boosted its position in Watsco by 1.4% during the fourth quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock worth $799,000 after purchasing an additional 23 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Watsco by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company’s stock valued at $3,645,000 after purchasing an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Raymond James started coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating for the company. Loop Capital lifted their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Finally, Robert W. Baird increased their price target on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $486.25.

Watsco Trading Up 3.1 %

Shares of WSO stock opened at $512.47 on Tuesday. The company has a market capitalization of $20.71 billion, a price-to-earnings ratio of 38.68 and a beta of 0.92. The firm has a 50-day moving average price of $494.16 and a 200 day moving average price of $497.15. Watsco, Inc. has a twelve month low of $396.82 and a twelve month high of $571.42.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. As a group, research analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is 81.51%.

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.