Integrated Wealth Concepts LLC Reduces Holdings in Watsco, Inc. (NYSE:WSO)

Integrated Wealth Concepts LLC trimmed its position in shares of Watsco, Inc. (NYSE:WSO) by 41.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,832 shares of the construction company’s stock after selling 1,320 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Watsco were worth $868,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of WSO. Rialto Wealth Management LLC purchased a new stake in shares of Watsco during the fourth quarter valued at $31,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Watsco during the fourth quarter valued at $36,000. Atala Financial Inc purchased a new stake in shares of Watsco during the fourth quarter valued at $49,000. Golden State Wealth Management LLC bought a new stake in shares of Watsco in the fourth quarter valued at about $50,000. Finally, Tortoise Investment Management LLC raised 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 acquiring an additional 64 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WSO has been the subject of several recent research reports. Morgan Stanley initiated coverage on Watsco in a report on Monday, April 14th. They issued an “equal weight” rating and a $515.00 price objective for the company. StockNews.com downgraded shares of Watsco from a “hold” rating to a “sell” rating in a report on Friday, April 25th. Raymond James initiated coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Mizuho set a $490.00 price objective on shares of Watsco in a research report on Thursday, April 24th. Finally, UBS Group dropped their target price on shares of Watsco from $475.00 to $455.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Watsco currently has a consensus rating of “Hold” and an average target price of $480.83.

Watsco Price Performance

Shares of Watsco stock opened at $459.61 on Thursday. The firm has a fifty day moving average price of $495.79 and a 200 day moving average price of $498.01. Watsco, Inc. has a 1 year low of $439.08 and a 1 year high of $571.42. The stock has a market cap of $18.57 billion, a PE ratio of 34.69 and a beta of 1.00.

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

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were paid a dividend of $3.00 per share. 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%. This is a boost from Watsco’s previous quarterly dividend of $2.70. Watsco’s payout ratio is currently 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.