Motley Fool Asset Management LLC Trims Holdings in Watsco, Inc. (NYSE:WSO)

Motley Fool Asset Management LLC reduced its stake in shares of Watsco, Inc. (NYSE:WSO) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,021 shares of the construction company’s stock after selling 789 shares during the quarter. Watsco comprises about 2.8% of Motley Fool Asset Management LLC’s investment portfolio, making the stock its 5th biggest position. Motley Fool Asset Management LLC owned 0.22% of Watsco worth $37,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of WSO. International Assets Investment Management LLC boosted its position in Watsco by 40,702.6% during the 4th quarter. International Assets Investment Management LLC now owns 205,237 shares of the construction company’s stock valued at $87,938,000 after acquiring an additional 204,734 shares in the last quarter. Invesco Ltd. increased its stake in Watsco by 120.4% during the 3rd quarter. Invesco Ltd. now owns 300,059 shares of the construction company’s stock worth $113,338,000 after buying an additional 163,915 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Watsco by 111.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 292,832 shares of the construction company’s stock worth $110,608,000 after purchasing an additional 154,105 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Watsco in the fourth quarter valued at approximately $64,908,000. Finally, Barclays PLC lifted its holdings in Watsco by 37.8% in the third quarter. Barclays PLC now owns 351,188 shares of the construction company’s stock valued at $132,649,000 after acquiring an additional 96,383 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Up 0.7 %

Shares of NYSE:WSO traded up $3.23 during midday trading on Thursday, hitting $443.83. 482,385 shares of the company’s stock traded hands, compared to its average volume of 348,324. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 3.36. The company has a market cap of $17.53 billion, a PE ratio of 32.49 and a beta of 0.90. The firm’s fifty day moving average price is $411.12 and its two-hundred day moving average price is $399.44. Watsco, Inc. has a twelve month low of $315.17 and a twelve month high of $451.29.

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.09). Watsco had a return on equity of 21.36% and a net margin of 7.36%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period last year, the firm earned $2.83 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis. On average, equities research analysts anticipate that Watsco, Inc. will post 14.19 EPS for the current fiscal year.

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a $2.70 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $10.80 annualized dividend and a dividend yield of 2.43%. This is an increase from Watsco’s previous quarterly dividend of $2.45. Watsco’s payout ratio is presently 79.06%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Stephens reaffirmed an “overweight” rating and set a $500.00 price objective on shares of Watsco in a research report on Thursday. Robert W. Baird raised their price objective on shares of Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Watsco currently has an average rating of “Hold” and a consensus target price of $404.25.

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.