Fiduciary Trust Co Sells 292 Shares of Watsco, Inc. (NYSE:WSO)

Fiduciary Trust Co lessened its holdings in shares of Watsco, Inc. (NYSE:WSO) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,364 shares of the construction company’s stock after selling 292 shares during the quarter. Fiduciary Trust Co’s holdings in Watsco were worth $4,438,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Rialto Wealth Management LLC bought a new position in Watsco in the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Watsco during the fourth quarter worth $36,000. Atala Financial Inc bought a new position in shares of Watsco in the fourth quarter worth $49,000. Golden State Wealth Management LLC purchased a new position in shares of Watsco in the fourth quarter valued at $50,000. Finally, Tortoise Investment Management LLC raised its stake in shares of Watsco by 76.2% during the 4th quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company’s stock valued at $70,000 after purchasing an additional 64 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

WSO has been the subject of several analyst reports. UBS Group cut their target price on Watsco from $475.00 to $455.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. StockNews.com upgraded shares of Watsco from a “sell” rating to a “hold” rating in a research report on Friday. Mizuho set a $490.00 target price on shares of Watsco in a report on Thursday, April 24th. Robert W. Baird lowered their target price on shares of Watsco from $560.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Finally, Loop Capital boosted their price target on shares of Watsco from $450.00 to $460.00 and gave the company 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $480.83.

Watsco Stock Performance

Watsco stock opened at $476.20 on Friday. Watsco, Inc. has a fifty-two week low of $439.08 and a fifty-two week high of $571.42. The stock has a market cap of $19.24 billion, a P/E ratio of 35.94 and a beta of 1.11. The firm’s fifty day moving average price is $492.18 and its 200-day moving average price is $496.88.

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

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were given a dividend of $3.00 per share. This is a boost from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Tuesday, April 15th. Watsco’s dividend payout ratio (DPR) is presently 92.24%.

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.