Barclays PLC Cuts Position in Watsco, Inc. (NYSE:WSO)

Barclays PLC trimmed its stake in Watsco, Inc. (NYSE:WSO) by 38.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 237,647 shares of the construction company’s stock after selling 146,765 shares during the period. Barclays PLC owned 0.59% of Watsco worth $112,619,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Tudor Financial Inc. purchased a new stake in shares of Watsco during the third quarter valued at about $588,000. Anchor Investment Management LLC boosted its stake in Watsco by 500.0% in the third quarter. Anchor Investment Management LLC now owns 228 shares of the construction company’s stock valued at $112,000 after acquiring an additional 190 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in Watsco by 1.3% in the third quarter. Sanctuary Advisors LLC now owns 8,088 shares of the construction company’s stock worth $3,978,000 after purchasing an additional 107 shares during the last quarter. Tidal Investments LLC increased its position in shares of Watsco by 3.1% during the third quarter. Tidal Investments LLC now owns 2,269 shares of the construction company’s stock worth $1,116,000 after purchasing an additional 69 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Watsco by 5.6% during the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock worth $25,645,000 after purchasing an additional 2,738 shares in the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Price Performance

NYSE WSO opened at $510.65 on Wednesday. The company has a fifty day moving average of $498.55 and a 200 day moving average of $499.13. The company has a market capitalization of $20.63 billion, a PE ratio of 38.54 and a beta of 1.00. Watsco, Inc. has a 1 year low of $396.82 and a 1 year high of $571.42.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. The firm had revenue of $1.75 billion for 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%. Research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be paid a $3.00 dividend. This is a boost from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Tuesday, April 15th. Watsco’s payout ratio is currently 90.57%.

Analyst Ratings Changes

A number of research firms have commented on WSO. Robert W. Baird increased their price target on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Loop Capital increased their price objective 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. Morgan Stanley began coverage on shares of Watsco in a research report on Monday. They set an “equal weight” rating and a $515.00 target price on the stock. Finally, Raymond James started coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $492.00.

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.