Watsco, Inc. (NYSE:WSO) Shares Sold by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main decreased its holdings in Watsco, Inc. (NYSE:WSO) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,789 shares of the construction company’s stock after selling 548 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned approximately 0.07% of Watsco worth $13,169,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Rialto Wealth Management LLC acquired a new stake in shares of Watsco in the fourth quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Watsco in the 4th quarter worth $36,000. Atala Financial Inc purchased a new position in shares of Watsco during the 4th quarter worth $49,000. Golden State Wealth Management LLC acquired a new position in shares of Watsco during the 4th quarter valued at about $50,000. Finally, Tortoise Investment Management LLC grew its holdings in shares of Watsco by 76.2% in the fourth quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company’s stock valued at $70,000 after purchasing an additional 64 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Loop Capital lifted their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday, February 27th. Raymond James assumed coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating on the stock. Morgan Stanley started coverage on Watsco in a research report on Monday, April 14th. They issued an “equal weight” rating and a $515.00 price objective for the company. Mizuho set a $490.00 target price on Watsco in a research report on Thursday, April 24th. Finally, Robert W. Baird lowered their price target on Watsco from $560.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Watsco presently has a consensus rating of “Hold” and a consensus price target of $480.83.

Watsco Stock Up 1.4 %

NYSE:WSO opened at $476.20 on Friday. Watsco, Inc. has a 52 week low of $439.08 and a 52 week high of $571.42. The stock’s fifty day moving average is $492.18 and its two-hundred day moving average is $496.88. The stock has a market capitalization of $19.24 billion, a price-to-earnings ratio of 35.94 and a beta of 1.11.

Watsco (NYSE:WSO) last posted its earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.36). The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. Watsco’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.17 EPS. On average, sell-side analysts expect that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were paid a $3.00 dividend. This is a positive change from Watsco’s previous quarterly dividend of $2.70. The ex-dividend date was Tuesday, April 15th. This represents a $12.00 annualized dividend and a dividend yield of 2.52%. Watsco’s dividend payout ratio (DPR) is presently 92.24%.

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.