Watsco, Inc. (NYSE:WSO) Shares Sold by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. cut its stake in Watsco, Inc. (NYSE:WSO) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,116 shares of the construction company’s stock after selling 191 shares during the period. Watsco makes up approximately 1.4% of Cutter & CO Brokerage Inc.’s holdings, making the stock its 14th largest holding. Cutter & CO Brokerage Inc.’s holdings in Watsco were worth $5,191,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC lifted its stake in Watsco by 40,702.6% in the 4th quarter. International Assets Investment Management LLC now owns 205,237 shares of the construction company’s stock valued at $87,938,000 after buying an additional 204,734 shares in the last quarter. Invesco Ltd. lifted its position in shares of Watsco by 120.4% in the third quarter. Invesco Ltd. now owns 300,059 shares of the construction company’s stock valued at $113,338,000 after acquiring an additional 163,915 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Watsco by 111.1% during the third quarter. Envestnet Asset Management Inc. now owns 292,832 shares of the construction company’s stock valued at $110,608,000 after acquiring an additional 154,105 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Watsco during the 4th quarter worth about $64,908,000. Finally, Barclays PLC raised its stake in Watsco by 37.8% in the 3rd quarter. Barclays PLC now owns 351,188 shares of the construction company’s stock valued at $132,649,000 after purchasing an additional 96,383 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

WSO traded up $7.21 during trading hours on Tuesday, hitting $413.71. 465,686 shares of the stock were exchanged, compared to its average volume of 341,092. The stock has a market cap of $16.34 billion, a price-to-earnings ratio of 30.29 and a beta of 0.89. The stock has a 50-day simple moving average of $409.13 and a 200-day simple moving average of $398.83. 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, Inc. has a 12 month low of $315.17 and a 12 month high of $447.49.

Watsco (NYSE:WSO) last posted its quarterly earnings results 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 business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the business posted $2.35 earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. Analysts anticipate that Watsco, Inc. will post 14.19 earnings per share for the current year.

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.61%. This is a boost from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date of this dividend is Friday, April 12th. Watsco’s dividend payout ratio (DPR) is presently 79.06%.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lifted their price target 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 investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Watsco presently has a consensus rating of “Hold” and a consensus target price of $398.00.

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.