BNP Paribas Arbitrage SA Trims Stake in Watsco, Inc. (NYSE:WSO)

BNP Paribas Arbitrage SA trimmed its holdings in shares of Watsco, Inc. (NYSE:WSOGet Rating) by 13.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,127 shares of the construction company’s stock after selling 3,015 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Watsco were worth $5,984,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of WSO. Sonora Investment Management LLC grew its position in Watsco by 75.5% during the third quarter. Sonora Investment Management LLC now owns 93 shares of the construction company’s stock worth $25,000 after buying an additional 40 shares in the last quarter. Accel Wealth Management purchased a new position in Watsco during the fourth quarter worth about $28,000. Massmutual Trust Co. FSB ADV purchased a new position in Watsco during the third quarter worth about $30,000. Whittier Trust Co. purchased a new position in Watsco during the fourth quarter worth about $31,000. Finally, Kistler Tiffany Companies LLC grew its position in Watsco by 53.3% during the fourth quarter. Kistler Tiffany Companies LLC now owns 115 shares of the construction company’s stock worth $36,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 78.13% of the company’s stock.

A number of research firms have recently issued reports on WSO. Zacks Investment Research cut Watsco from a “hold” rating to a “sell” rating and set a $313.00 price objective for the company. in a report on Monday, January 17th. Robert W. Baird upped their price objective on Watsco from $300.00 to $350.00 in a report on Friday, April 22nd. StockNews.com cut Watsco from a “buy” rating to a “hold” rating in a report on Saturday, April 30th. KeyCorp upgraded Watsco from a “sector weight” rating to an “overweight” rating and set a $320.00 price objective for the company in a report on Monday, February 14th. Finally, Morgan Stanley cut their price objective on Watsco from $288.00 to $277.00 and set an “equal weight” rating for the company in a report on Friday, April 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Watsco has a consensus rating of “Hold” and a consensus target price of $316.29.

Shares of WSO stock opened at $258.13 on Friday. The stock has a market capitalization of $10.03 billion, a PE ratio of 21.07 and a beta of 0.88. Watsco, Inc. has a 1-year low of $245.26 and a 1-year high of $318.98. The business has a 50-day moving average of $287.07 and a 200 day moving average of $289.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.77 and a quick ratio of 1.11.

Watsco (NYSE:WSOGet Rating) last issued its earnings results on Thursday, April 21st. The construction company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $1.82 by $1.08. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Watsco had a return on equity of 23.76% and a net margin of 7.16%. Watsco’s quarterly revenue was up 34.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 EPS. Analysts anticipate that Watsco, Inc. will post 13.97 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Thursday, April 14th were given a dividend of $2.20 per share. This is a positive change from Watsco’s previous quarterly dividend of $1.95. The ex-dividend date was Wednesday, April 13th. This represents a $8.80 dividend on an annualized basis and a yield of 3.41%. Watsco’s dividend payout ratio is presently 71.84%.

In other Watsco news, Director Brian E. Keeley sold 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 23rd. The stock was sold at an average price of $299.68, for a total transaction of $3,296,480.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 13.31% of the company’s stock.

Watsco Company Profile (Get Rating)

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, refrigeration equipment, and related parts and supplies. The company distributes equipment comprising residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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