iSAM Funds UK Ltd Sells 728 Shares of Watsco, Inc. (NYSE:WSO)

iSAM Funds UK Ltd reduced its stake in shares of Watsco, Inc. (NYSE:WSO) by 62.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 439 shares of the construction company’s stock after selling 728 shares during the quarter. iSAM Funds UK Ltd’s holdings in Watsco were worth $208,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new stake in Watsco during the fourth quarter worth approximately $31,000. Wingate Wealth Advisors Inc. bought a new stake in Watsco during the fourth quarter worth approximately $36,000. Atala Financial Inc bought a new stake in Watsco during the fourth quarter worth approximately $49,000. Golden State Wealth Management LLC bought a new stake in Watsco during the fourth quarter worth approximately $50,000. Finally, Tortoise Investment Management LLC increased its stake in Watsco by 76.2% during the fourth quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company’s stock worth $70,000 after acquiring an additional 64 shares during the last quarter. 89.71% of the stock is owned by institutional investors.

Watsco Stock Performance

Shares of NYSE WSO opened at $459.64 on Thursday. The firm has a market capitalization of $18.57 billion, a price-to-earnings ratio of 34.69 and a beta of 1.11. The stock has a 50 day moving average price of $488.08 and a 200 day moving average price of $497.13. Watsco, Inc. has a 52-week low of $439.08 and a 52-week high of $571.42.

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

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were issued a $3.00 dividend. This is a positive change from Watsco’s previous quarterly dividend of $2.70. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.61%. Watsco’s payout ratio is presently 92.24%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. UBS Group reduced their price objective on Watsco from $475.00 to $455.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Loop Capital boosted their target price on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research report on Thursday, February 27th. StockNews.com upgraded Watsco from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Robert W. Baird dropped their target price on Watsco from $560.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Finally, Mizuho set a $490.00 target price on Watsco in a research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.