Watsco, Inc. (NYSE:WSO) Shares Sold by Quadrant Capital Group LLC

Quadrant Capital Group LLC reduced its holdings in Watsco, Inc. (NYSE:WSO) by 10.7% during the fourth quarter, Holdings Channel reports. The firm owned 518 shares of the construction company’s stock after selling 62 shares during the period. Quadrant Capital Group LLC’s holdings in Watsco were worth $245,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Russell Investments Group Ltd. raised its position in shares of Watsco by 2.8% during the fourth quarter. Russell Investments Group Ltd. now owns 16,855 shares of the construction company’s stock worth $7,987,000 after purchasing an additional 457 shares during the period. Envestnet Asset Management Inc. raised its holdings in Watsco by 1.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 260,104 shares of the construction company’s stock worth $123,261,000 after buying an additional 3,196 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in Watsco during the fourth quarter valued at about $5,342,000. Landscape Capital Management L.L.C. purchased a new stake in Watsco during the fourth quarter valued at about $2,623,000. Finally, Arete Wealth Advisors LLC boosted its holdings in shares of Watsco by 10.6% in the fourth quarter. Arete Wealth Advisors LLC now owns 898 shares of the construction company’s stock worth $427,000 after buying an additional 86 shares during the period. Institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Watsco Stock Down 2.5 %

Shares of NYSE:WSO opened at $461.08 on Wednesday. Watsco, Inc. has a 12-month low of $396.82 and a 12-month high of $571.42. The firm has a market capitalization of $18.63 billion, a P/E ratio of 34.80 and a beta of 1.00. The firm has a fifty day moving average of $495.06 and a two-hundred day moving average of $498.77.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share 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%. Equities research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.60%. This is an increase from Watsco’s previous quarterly dividend of $2.70. The ex-dividend date is Tuesday, April 15th. Watsco’s payout ratio is currently 90.57%.

Watsco 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.