Access Financial Services Inc. Sells 594 Shares of Watsco, Inc. (NYSE:WSO)

Access Financial Services Inc. cut its position in Watsco, Inc. (NYSE:WSO) by 15.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,323 shares of the construction company’s stock after selling 594 shares during the quarter. Access Financial Services Inc.’s holdings in Watsco were worth $1,424,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in Watsco by 2.6% in the third quarter. Wellington Management Group LLP now owns 648,662 shares of the construction company’s stock valued at $245,013,000 after purchasing an additional 16,589 shares during the last quarter. Hamlin Capital Management LLC raised its position in shares of Watsco by 5.7% during the fourth quarter. Hamlin Capital Management LLC now owns 295,833 shares of the construction company’s stock worth $126,756,000 after acquiring an additional 16,006 shares during the last quarter. Portside Wealth Group LLC raised its position in shares of Watsco by 1.9% during the third quarter. Portside Wealth Group LLC now owns 3,342 shares of the construction company’s stock worth $1,265,000 after acquiring an additional 63 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Watsco by 1.9% during the third quarter. Nordea Investment Management AB now owns 120,564 shares of the construction company’s stock worth $46,137,000 after acquiring an additional 2,295 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its position in shares of Watsco by 35.0% during the third quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company’s stock worth $41,000 after acquiring an additional 28 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Price Performance

WSO opened at $431.97 on Friday. The stock has a 50-day moving average price of $400.26 and a 200-day moving average price of $391.15. Watsco, Inc. has a 12-month low of $298.79 and a 12-month high of $441.29. The company has a current ratio of 3.36, a quick ratio of 1.47 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $17.06 billion, a P/E ratio of 31.62, a PEG ratio of 3.37 and a beta of 0.89.

Watsco (NYSE:WSO) last posted its quarterly earnings data 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). Watsco had a return on equity of 21.36% and a net margin of 7.36%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the company posted $2.35 earnings per share. Watsco’s revenue for the quarter was up 1.4% compared to the same quarter last year. Equities analysts predict that Watsco, Inc. will post 14.26 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 17th were paid a $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Tuesday, January 16th. Watsco’s dividend payout ratio (DPR) is presently 71.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on WSO shares. Stephens raised their target price on Watsco from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, December 11th. Deutsche Bank Aktiengesellschaft upgraded Watsco from a “hold” rating to a “buy” rating and boosted their price objective for the company from $387.00 to $500.00 in a research note on Friday, December 8th. Finally, Robert W. Baird boosted their target price on Watsco from $400.00 to $410.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Watsco presently has a consensus rating of “Hold” and a consensus target price of $396.00.

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.