Watsco, Inc. (NYSE:WSO) Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC trimmed its holdings in shares of Watsco, Inc. (NYSE:WSO) by 55.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 189 shares of the construction company’s stock after selling 232 shares during the period. Headlands Technologies LLC’s holdings in Watsco were worth $90,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Geode Capital Management LLC raised its stake in Watsco by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 725,186 shares of the construction company’s stock worth $343,168,000 after acquiring an additional 20,856 shares during the period. National Bank of Canada FI raised its position in shares of Watsco by 15.9% during the 4th quarter. National Bank of Canada FI now owns 5,499 shares of the construction company’s stock worth $2,606,000 after purchasing an additional 754 shares during the period. HighPoint Advisor Group LLC bought a new stake in shares of Watsco in the 4th quarter worth approximately $264,000. Summit Financial LLC boosted its position in Watsco by 42.3% during the 4th quarter. Summit Financial LLC now owns 710 shares of the construction company’s stock valued at $336,000 after purchasing an additional 211 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its stake in Watsco by 20.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,801 shares of the construction company’s stock worth $1,801,000 after buying an additional 645 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Watsco Stock Down 3.0 %

WSO stock opened at $477.78 on Monday. The company has a market capitalization of $19.30 billion, a P/E ratio of 36.06 and a beta of 1.00. The company has a 50-day simple moving average of $496.34 and a 200 day simple moving average of $499.43. Watsco, Inc. has a fifty-two week low of $396.82 and a fifty-two week 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 (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.67 billion. Equities analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Tuesday, April 15th. This is an increase from Watsco’s previous quarterly dividend of $2.70. Watsco’s payout ratio is currently 81.51%.

About Watsco

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.