Guggenheim Capital LLC Reduces Stock Holdings in Watsco, Inc. (NYSE:WSO)

Guggenheim Capital LLC lessened its stake in shares of Watsco, Inc. (NYSE:WSO) by 12.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,053 shares of the construction company’s stock after selling 1,662 shares during the quarter. Guggenheim Capital LLC’s holdings in Watsco were worth $5,712,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Rialto Wealth Management LLC acquired a new stake in Watsco during the 4th quarter worth $31,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Watsco during the fourth quarter worth about $36,000. Atala Financial Inc acquired a new stake in shares of Watsco during the fourth quarter worth about $49,000. Golden State Wealth Management LLC purchased a new stake in shares of Watsco in the 4th quarter valued at about $50,000. Finally, Tortoise Investment Management LLC lifted its holdings in shares of Watsco by 76.2% in the 4th quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company’s stock valued at $70,000 after purchasing an additional 64 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

WSO stock opened at $507.62 on Friday. The stock has a market capitalization of $20.51 billion, a PE ratio of 38.31 and a beta of 1.00. The company has a fifty day moving average of $500.00 and a 200-day moving average of $499.23. Watsco, Inc. has a one year low of $396.82 and a one year high of $571.42.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS 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 firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. Equities analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The firm also recently disclosed 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 is a boost from Watsco’s previous quarterly dividend of $2.70. The ex-dividend date is Tuesday, April 15th. This represents a $12.00 annualized dividend and a yield of 2.36%. Watsco’s dividend payout ratio is presently 90.57%.

Wall Street Analyst Weigh In

Several research firms have commented on WSO. Loop Capital lifted their price target on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Robert W. Baird raised their price objective on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Morgan Stanley began coverage on shares of Watsco in a research note on Monday. They issued an “equal weight” rating and a $515.00 price objective on the stock. Finally, Raymond James started coverage on shares of Watsco in a research note on Friday, January 17th. They set a “market perform” rating for the company. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Watsco has a consensus rating of “Hold” and a consensus price target of $492.00.

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.