Ensign Peak Advisors Inc Reduces Position in Watsco, Inc. (NYSE:WSO)

Ensign Peak Advisors Inc trimmed its position in Watsco, Inc. (NYSE:WSO) by 12.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,903 shares of the construction company’s stock after selling 2,794 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Watsco were worth $9,432,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. My Legacy Advisors LLC raised its stake in shares of Watsco by 3.2% during the fourth quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock valued at $329,000 after acquiring an additional 21 shares during the last quarter. Avidian Wealth Enterprises LLC raised its position in Watsco by 1.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock valued at $567,000 after purchasing an additional 21 shares during the last quarter. Centennial Wealth Advisory LLC lifted its holdings in Watsco by 3.0% in the 4th quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock worth $358,000 after buying an additional 22 shares during the period. M&T Bank Corp lifted its holdings in Watsco by 1.4% in the 4th quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock worth $799,000 after buying an additional 23 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Watsco by 0.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company’s stock worth $3,645,000 after buying an additional 23 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on WSO. Mizuho set a $490.00 target price on Watsco in a report on Thursday, April 24th. Loop Capital raised their target price on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research note on Thursday, February 27th. Morgan Stanley initiated coverage on Watsco in a research note on Monday, April 14th. They issued an “equal weight” rating and a $515.00 price target on the stock. Raymond James assumed coverage on Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Finally, StockNews.com upgraded shares of Watsco from a “sell” rating to a “hold” rating in a report on Friday. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $480.83.

Watsco Stock Up 1.7%

WSO stock opened at $484.20 on Tuesday. The business has a 50 day moving average of $491.82 and a 200 day moving average of $497.29. Watsco, Inc. has a twelve month low of $439.08 and a twelve month high of $571.42. The firm has a market cap of $19.56 billion, a PE ratio of 36.54 and a beta of 1.11.

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

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a $3.00 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This is a boost from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a yield of 2.48%. Watsco’s payout ratio is 92.24%.

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.