WASHINGTON TRUST Co Has $19.88 Million Holdings in Watsco, Inc. (NYSE:WSO)

WASHINGTON TRUST Co decreased its stake in shares of Watsco, Inc. (NYSE:WSO) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,404 shares of the construction company’s stock after selling 2,326 shares during the period. WASHINGTON TRUST Co owned about 0.12% of Watsco worth $19,883,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Contravisory Investment Management Inc. purchased a new position in Watsco in the fourth quarter worth $26,000. Rise Advisors LLC bought a new stake in shares of Watsco during the 4th quarter valued at $30,000. BKM Wealth Management LLC bought a new stake in shares of Watsco during the 4th quarter valued at $32,000. FNY Investment Advisers LLC bought a new stake in shares of Watsco during the 3rd quarter valued at $37,000. Finally, Raleigh Capital Management Inc. raised its stake in shares of Watsco by 35.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company’s stock valued at $41,000 after purchasing an additional 28 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Watsco from a “hold” rating to a “buy” rating and boosted their target price for the stock from $387.00 to $500.00 in a research report on Friday, December 8th. Stephens raised their price target on Watsco from $450.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, December 11th. Finally, Robert W. Baird raised their price target on Watsco from $400.00 to $410.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $396.00.

Watsco Trading Up 1.2 %

WSO traded up $5.15 on Wednesday, hitting $429.40. 81,278 shares of the company were exchanged, compared to its average volume of 353,586. The firm has a fifty day simple moving average of $398.65 and a two-hundred day simple moving average of $390.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 3.36. Watsco, Inc. has a 12 month low of $298.79 and a 12 month high of $441.29. The stock has a market capitalization of $16.96 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 3.34 and a beta of 0.89.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, February 13th. The construction company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.44). Watsco had a return on equity of 21.36% and a net margin of 7.36%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the business posted $2.35 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. Sell-side analysts expect that Watsco, Inc. will post 14.26 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 17th were paid a $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Tuesday, January 16th. Watsco’s payout ratio is presently 71.74%.

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.