Watsco, Inc. (NYSE:WSO) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in Watsco, Inc. (NYSE:WSO) by 1.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 16,432 shares of the construction company’s stock after selling 228 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Watsco were worth $7,041,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new position in Watsco in the 4th quarter valued at $26,000. Rise Advisors LLC purchased a new position in Watsco in the 4th quarter valued at $30,000. BKM Wealth Management LLC purchased a new position in Watsco in the 4th quarter valued at $32,000. 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 valued at $32,000 after purchasing an additional 26 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in Watsco by 44.1% in the 4th quarter. Allworth Financial LP now owns 98 shares of the construction company’s stock valued at $42,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird upped their price objective on shares of 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 four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $396.00.

Watsco Stock Down 1.2 %

Shares of WSO opened at $396.92 on Friday. The stock has a market capitalization of $15.68 billion, a PE ratio of 29.06 and a beta of 0.90. Watsco, Inc. has a 1 year low of $315.17 and a 1 year high of $447.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 3.36. The company’s 50-day simple moving average is $408.62 and its 200-day simple moving average is $398.39.

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

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.72%. This is a positive change from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date is Friday, April 12th. Watsco’s dividend payout ratio is presently 79.06%.

About Watsco

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.