Watsco, Inc. (NYSE:WSO) Shares Sold by Deutsche Bank AG

Deutsche Bank AG cut its stake in Watsco, Inc. (NYSE:WSO) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,970 shares of the construction company’s stock after selling 5,229 shares during the period. Deutsche Bank AG owned approximately 0.14% of Watsco worth $26,050,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in shares of Watsco during the 4th quarter valued at $31,000. Wingate Wealth Advisors Inc. acquired a new position in Watsco during the fourth quarter worth about $36,000. Atala Financial Inc acquired a new position in Watsco during the fourth quarter worth about $49,000. Golden State Wealth Management LLC bought a new stake in Watsco in the fourth quarter worth about $50,000. Finally, Tortoise Investment Management LLC lifted its holdings in Watsco by 76.2% in the 4th quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company’s stock valued at $70,000 after acquiring an additional 64 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Down 1.0%

WSO opened at $476.51 on Thursday. Watsco, Inc. has a 12-month low of $439.08 and a 12-month high of $571.42. The stock has a fifty day moving average of $490.91 and a 200-day moving average of $497.03. The firm has a market capitalization of $19.25 billion, a P/E ratio of 35.96 and a beta of 1.11.

Watsco (NYSE:WSO) last issued its 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 firm had revenue of $1.53 billion during 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%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.17 earnings per share. On average, analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.52%. This is an increase from Watsco’s previous quarterly dividend of $2.70. The ex-dividend date of this dividend was Tuesday, April 15th. Watsco’s payout ratio is currently 92.24%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WSO. StockNews.com raised shares of Watsco from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Raymond James began coverage on shares of Watsco in a research report on Friday, January 17th. They issued a “market perform” rating on the stock. Morgan Stanley initiated coverage on Watsco in a research report on Monday, April 14th. They set an “equal weight” rating and a $515.00 price objective for the company. UBS Group decreased their target price on Watsco from $475.00 to $455.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Finally, Loop Capital boosted their target price on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Watsco currently has a consensus rating of “Hold” and a consensus target price of $480.83.

Watsco 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.