TD Private Client Wealth LLC Trims Position in Watsco, Inc. (NYSE:WSO)

TD Private Client Wealth LLC lessened its holdings in shares of Watsco, Inc. (NYSE:WSO) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,982 shares of the construction company’s stock after selling 139 shares during the quarter. TD Private Client Wealth LLC’s holdings in Watsco were worth $2,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. My Legacy Advisors LLC lifted its position in shares of Watsco by 3.2% in the fourth quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock worth $329,000 after buying an additional 21 shares in the last quarter. Avidian Wealth Enterprises LLC raised its stake in shares of Watsco by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock valued at $567,000 after acquiring an additional 21 shares in the last quarter. Centennial Wealth Advisory LLC lifted its stake in Watsco by 3.0% in the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock worth $358,000 after acquiring an additional 22 shares during the period. M&T Bank Corp lifted its holdings in Watsco by 1.4% during the fourth quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock worth $799,000 after buying an additional 23 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Watsco by 0.3% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company’s stock valued at $3,645,000 after buying an additional 23 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Trading Down 1.3 %

Shares of NYSE WSO opened at $495.89 on Friday. The company has a 50-day moving average of $493.43 and a 200 day moving average of $496.13. Watsco, Inc. has a 12-month low of $396.82 and a 12-month high of $571.42. The stock has a market cap of $20.04 billion, a PE ratio of 37.43 and a beta of 0.92.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. On average, sell-side analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.18%. Watsco’s payout ratio is currently 81.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Raymond James began coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating for the company. Robert W. Baird increased their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Loop Capital lifted their price target on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research note on Thursday, February 27th. Finally, Northcoast Research started coverage on Watsco in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $486.25.

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.