Orion Portfolio Solutions LLC Sells 428 Shares of Watsco, Inc. (NYSE:WSO)

Orion Portfolio Solutions LLC lowered its holdings in Watsco, Inc. (NYSE:WSO) by 5.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,132 shares of the construction company’s stock after selling 428 shares during the period. Orion Portfolio Solutions LLC’s holdings in Watsco were worth $3,380,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WSO. Rialto Wealth Management LLC purchased a new position in shares of Watsco during the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. purchased a new stake in Watsco in the fourth quarter worth $36,000. Quarry LP lifted its position in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after buying an additional 33 shares during the period. Atala Financial Inc bought a new stake in shares of Watsco during the 4th quarter valued at $49,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Watsco in the 4th quarter worth about $50,000. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Up 1.5 %

Shares of NYSE WSO opened at $509.53 on Tuesday. The firm has a market cap of $20.59 billion, a P/E ratio of 38.45 and a beta of 0.92. Watsco, Inc. has a twelve month low of $396.82 and a twelve month high of $571.42. The company has a 50 day moving average of $496.37 and a 200 day moving average of $499.01.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.24. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. As a group, equities analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is presently 81.51%.

Wall Street Analysts Forecast Growth

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

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.