Watsco, Inc. (NYSE:WSO) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC trimmed its stake in shares of Watsco, Inc. (NYSE:WSO) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,375 shares of the construction company’s stock after selling 23 shares during the quarter. Parallel Advisors LLC’s holdings in Watsco were worth $652,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WSO. Rialto Wealth Management LLC acquired a new position in shares of Watsco during the 4th quarter worth about $31,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Watsco during the 4th quarter worth about $36,000. Quarry LP boosted its position in shares of Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after acquiring an additional 33 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Watsco during the 3rd quarter worth about $48,000. Finally, Atala Financial Inc acquired a new position in shares of Watsco during the 4th quarter worth about $49,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Performance

Watsco stock opened at $502.84 on Friday. Watsco, Inc. has a fifty-two week low of $396.82 and a fifty-two week high of $571.42. The company has a market capitalization of $20.32 billion, a P/E ratio of 37.95 and a beta of 0.92. The stock has a 50-day simple moving average of $492.81 and a 200-day simple moving average of $495.99.

Watsco (NYSE:WSO) last posted its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.24. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. As a group, analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a dividend of $2.70 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.15%. Watsco’s payout ratio is 81.51%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Robert W. Baird upped their price objective on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Raymond James assumed coverage on Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Northcoast Research started coverage on Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Finally, Loop Capital boosted their target price on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $486.25.

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.