Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Cuts Position in Watsco, Inc. (NYSE:WSO)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its holdings in shares of Watsco, Inc. (NYSE:WSO) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,791 shares of the construction company’s stock after selling 208 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.09% of Watsco worth $13,603,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Wetzel Investment Advisors Inc. purchased a new position in Watsco in the 4th quarter worth approximately $25,000. Contravisory Investment Management Inc. acquired a new stake in Watsco during the 4th quarter valued at $26,000. Rise Advisors LLC purchased a new stake in Watsco during the 4th quarter worth $30,000. BKM Wealth Management LLC acquired a new position in Watsco in the 4th quarter worth $32,000. Finally, Hartford Financial Management Inc. lifted its holdings in Watsco by 53.1% in the 4th quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock worth $32,000 after buying an additional 26 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

Shares of NYSE:WSO traded up $9.84 during trading hours on Monday, hitting $406.76. The stock had a trading volume of 499,843 shares, compared to its average volume of 339,475. The stock’s fifty day simple moving average is $408.54 and its 200 day simple moving average is $398.65. The firm has a market capitalization of $16.07 billion, a price-to-earnings ratio of 29.78 and a beta of 0.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 3.36. Watsco, Inc. has a 1-year low of $315.17 and a 1-year high of $447.49.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, February 13th. The construction company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.44). The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.65 billion. Watsco had a return on equity of 21.36% and a net margin of 7.36%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.35 EPS. Sell-side analysts anticipate that Watsco, Inc. will post 14.19 earnings per share for the current fiscal year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Friday, April 12th. This is an increase from Watsco’s previous quarterly dividend of $2.45. Watsco’s dividend payout ratio is 79.06%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lifted their price target on shares of Watsco from $400.00 to $410.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Watsco presently has a consensus rating of “Hold” and a consensus target price of $398.00.

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.