Hennion & Walsh Asset Management Inc. reduced its position in Watsco, Inc. (NYSE:WSO - Free Report) by 29.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,577 shares of the construction company's stock after selling 1,466 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Watsco were worth $1,695,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. J. W. Coons Advisors LLC boosted its holdings in shares of Watsco by 0.7% during the 3rd quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company's stock worth $1,475,000 after purchasing an additional 20 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company's stock worth $46,000 after buying an additional 22 shares during the last quarter. CWM LLC boosted its stake in Watsco by 2.6% during the third quarter. CWM LLC now owns 952 shares of the construction company's stock worth $468,000 after buying an additional 24 shares during the last quarter. MCF Advisors LLC grew its holdings in Watsco by 27.8% in the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company's stock valued at $57,000 after buying an additional 25 shares in the last quarter. Finally, Equitable Trust Co. increased its stake in shares of Watsco by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 1,166 shares of the construction company's stock worth $574,000 after acquiring an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company's stock.
WSO has been the subject of a number of analyst reports. Raymond James began coverage on shares of Watsco in a report on Friday. They issued a "market perform" rating for the company. Northcoast Research assumed coverage on Watsco in a research report on Friday, November 22nd. They issued a "neutral" rating on the stock. Finally, Robert W. Baird lowered their price target on Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $488.33.
Read Our Latest Analysis on WSO
Watsco stock opened at $496.92 on Friday. The firm has a market capitalization of $20.07 billion, a P/E ratio of 38.40 and a beta of 0.95. The stock's fifty day simple moving average is $508.48 and its 200-day simple moving average is $492.42. Watsco, Inc. has a twelve month low of $373.33 and a twelve month high of $571.41.
Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the business earned $4.35 EPS. Watsco's revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts predict that Watsco, Inc. will post 12.97 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $2.70 per share. The ex-dividend date is Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.17%. Watsco's dividend payout ratio is presently 83.46%.
In other news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 12.86% of the company's stock.
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.
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