Knowledge Leaders Capital LLC Trims Stake in Watsco, Inc. (NYSE:WSO)

Knowledge Leaders Capital LLC decreased its position in shares of Watsco, Inc. (NYSE:WSO) by 7.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,188 shares of the construction company’s stock after selling 102 shares during the period. Knowledge Leaders Capital LLC’s holdings in Watsco were worth $509,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WSO. International Assets Investment Management LLC raised its holdings in Watsco by 40,702.6% in the 4th quarter. International Assets Investment Management LLC now owns 205,237 shares of the construction company’s stock worth $87,938,000 after purchasing an additional 204,734 shares during the period. Invesco Ltd. increased its holdings in shares of Watsco by 120.4% in the third quarter. Invesco Ltd. now owns 300,059 shares of the construction company’s stock worth $113,338,000 after purchasing an additional 163,915 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Watsco by 111.1% in the third 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 bought a new stake in shares of Watsco in the fourth quarter worth about $64,908,000. Finally, Barclays PLC increased its holdings in shares of Watsco by 37.8% in the third quarter. Barclays PLC now owns 351,188 shares of the construction company’s stock worth $132,649,000 after purchasing an additional 96,383 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WSO shares. Stephens reaffirmed an “overweight” rating and issued a $500.00 target price on shares of Watsco in a report on Thursday. Robert W. Baird lifted their price target on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Watsco has a consensus rating of “Hold” and an average price target of $404.25.

Watsco Trading Down 0.2 %

Shares of NYSE:WSO traded down $0.79 during trading hours on Friday, hitting $443.21. 277,114 shares of the company’s stock traded hands, compared to its average volume of 313,812. Watsco, Inc. has a 1 year low of $315.17 and a 1 year high of $451.29. The business has a fifty day moving average price of $412.36 and a 200-day moving average price of $399.76. The firm has a market capitalization of $17.51 billion, a P/E ratio of 34.09 and a beta of 0.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.47.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Watsco had a net margin of 7.03% and a return on equity of 19.26%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.83 EPS. Equities analysts expect that Watsco, Inc. will post 14.19 earnings per share for the current year.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a dividend of $2.70 per share. The ex-dividend date is Friday, April 12th. This is an increase from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.44%. Watsco’s dividend payout ratio is presently 83.08%.

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.