Cambridge Trust Co. Has $1.63 Million Holdings in Watsco, Inc. (NYSE:WSO)

Cambridge Trust Co. trimmed its position in Watsco, Inc. (NYSE:WSO) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,797 shares of the construction company’s stock after selling 85 shares during the period. Cambridge Trust Co.’s holdings in Watsco were worth $1,627,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Contravisory Investment Management Inc. bought a new position in Watsco in the fourth quarter valued at about $26,000. Rise Advisors LLC bought a new stake in shares of Watsco during the fourth quarter worth about $30,000. BKM Wealth Management LLC acquired a new position in shares of Watsco in the fourth quarter valued at approximately $32,000. Hartford Financial Management Inc. raised 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 buying an additional 26 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Watsco during the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

Shares of WSO opened at $401.84 on Friday. The business has a 50-day moving average of $408.99 and a 200-day moving average of $398.05. Watsco, Inc. has a 1 year low of $314.87 and a 1 year high of $447.49. The company has a market capitalization of $15.87 billion, a price-to-earnings ratio of 29.42 and a beta of 0.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.36 and a quick ratio of 1.47.

Watsco (NYSE:WSO) last released 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). The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.65 billion. Watsco had a return on equity of 21.36% and a net margin of 7.36%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.35 EPS. As a group, equities research analysts anticipate that Watsco, Inc. will post 14.19 earnings per share for the current 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 issued a $2.70 dividend. This is a positive change from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date is Friday, April 12th. This represents a $10.80 annualized dividend and a yield of 2.69%. Watsco’s payout ratio is presently 79.06%.

Analyst Ratings Changes

Separately, Robert W. Baird boosted their target price on shares of Watsco from $400.00 to $410.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $396.00.

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.