Waterloo Capital L.P. Cuts Stock Holdings in Watsco, Inc. (NYSE:WSO)

Waterloo Capital L.P. cut its position in shares of Watsco, Inc. (NYSE:WSO) by 9.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 742 shares of the construction company’s stock after selling 75 shares during the period. Waterloo Capital L.P.’s holdings in Watsco were worth $352,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new stake in shares of Watsco during the 4th quarter worth about $31,000. Wingate Wealth Advisors Inc. acquired a new position in Watsco in the 4th quarter worth about $36,000. Quarry LP boosted its position in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after purchasing an additional 33 shares in the last quarter. Atala Financial Inc acquired a new stake in Watsco in the fourth quarter valued at approximately $49,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Watsco in the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

NYSE WSO opened at $472.63 on Tuesday. Watsco, Inc. has a one year low of $396.82 and a one year high of $571.42. The business has a fifty day moving average price of $496.01 and a 200 day moving average price of $499.24. The company has a market cap of $19.10 billion, a P/E ratio of 35.67 and a beta of 1.00.

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

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $3.00 per share. This is a boost from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Tuesday, April 15th. Watsco’s payout ratio is currently 90.57%.

Analyst Upgrades and Downgrades

WSO has been the topic of a number of recent analyst reports. Robert W. Baird increased their target price on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Loop Capital increased their price objective on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. Finally, Raymond James assumed coverage on shares of Watsco in a research report on Friday, January 17th. They issued a “market perform” rating on the stock. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Watsco currently has an average rating of “Hold” and a consensus price target of $486.25.

About Watsco

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.