Pennsylvania Trust Co Cuts Position in Watsco Inc (WSO)
Pennsylvania Trust Co reduced its stake in Watsco Inc (NYSE:WSO) by 96.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,422 shares of the construction company’s stock after selling 36,656 shares during the period. Pennsylvania Trust Co’s holdings in Watsco were worth $399,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Louisiana State Employees Retirement System increased its holdings in Watsco by 1.2% in the 1st quarter. Louisiana State Employees Retirement System now owns 8,600 shares of the construction company’s stock valued at $1,232,000 after purchasing an additional 100 shares in the last quarter. Park National Corp OH grew its stake in shares of Watsco by 7.1% during the fourth quarter. Park National Corp OH now owns 1,666 shares of the construction company’s stock valued at $232,000 after acquiring an additional 111 shares in the last quarter. Webster Bank N. A. grew its stake in shares of Watsco by 6.1% during the first quarter. Webster Bank N. A. now owns 1,997 shares of the construction company’s stock valued at $286,000 after acquiring an additional 114 shares in the last quarter. Donaldson Capital Management LLC grew its stake in shares of Watsco by 7.1% during the first quarter. Donaldson Capital Management LLC now owns 1,745 shares of the construction company’s stock valued at $250,000 after acquiring an additional 115 shares in the last quarter. Finally, First Hawaiian Bank grew its stake in shares of Watsco by 16.8% during the fourth quarter. First Hawaiian Bank now owns 885 shares of the construction company’s stock valued at $123,000 after acquiring an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 78.74% of the company’s stock.
Shares of NYSE WSO opened at $151.33 on Monday. The company has a current ratio of 4.03, a quick ratio of 1.69 and a debt-to-equity ratio of 0.08. Watsco Inc has a 52-week low of $131.88 and a 52-week high of $192.94. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 1.80 and a beta of 0.94.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a $1.60 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.40 dividend on an annualized basis and a yield of 4.23%. Watsco’s dividend payout ratio is currently 98.61%.
Separately, Zacks Investment Research raised shares of Watsco from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Watsco currently has an average rating of “Hold” and an average price target of $176.00.
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Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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