Watsco, Inc. (NYSE:WSO) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc decreased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 2.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 18,795 shares of the construction company’s stock after selling 422 shares during the period. Watsco makes up approximately 0.9% of Marks Group Wealth Management Inc’s investment portfolio, making the stock its 25th largest holding. Marks Group Wealth Management Inc’s holdings in Watsco were worth $8,053,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Separately, Robert W. Baird increased their price objective on Watsco from $400.00 to $410.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $398.00.

Watsco Stock Performance

Shares of WSO traded up $9.84 during mid-day trading on Monday, reaching $406.76. The company had a trading volume of 499,843 shares, compared to its average volume of 339,475. The stock has a market capitalization of $16.07 billion, a P/E ratio of 29.78 and a beta of 0.89. Watsco, Inc. has a 52-week low of $315.17 and a 52-week high of $447.49. The stock has a 50 day moving average of $408.54 and a two-hundred day moving average of $398.65. The company has a quick ratio of 1.47, a current ratio of 3.36 and a debt-to-equity ratio of 0.01.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, February 13th. The construction company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 7.36% and a return on equity of 21.36%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.35 earnings per share. On average, analysts expect that Watsco, Inc. will post 14.19 earnings per share for the current year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Friday, April 12th. This is a positive change from Watsco’s previous quarterly dividend of $2.45. Watsco’s dividend payout ratio (DPR) is currently 79.06%.

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.