BNP Paribas Financial Markets Sells 2,167 Shares of Watsco, Inc. (NYSE:WSO)

BNP Paribas Financial Markets lowered its position in Watsco, Inc. (NYSE:WSO) by 10.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 18,418 shares of the construction company’s stock after selling 2,167 shares during the period. BNP Paribas Financial Markets’ holdings in Watsco were worth $8,728,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Watsco by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 3,618,109 shares of the construction company’s stock worth $1,714,586,000 after buying an additional 52,127 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Watsco by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company’s stock valued at $649,957,000 after purchasing an additional 118,713 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Watsco by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 725,186 shares of the construction company’s stock valued at $343,168,000 after purchasing an additional 20,856 shares during the last quarter. Markel Group Inc. boosted its holdings in shares of Watsco by 1.4% during the 4th quarter. Markel Group Inc. now owns 590,500 shares of the construction company’s stock valued at $279,832,000 after purchasing an additional 8,000 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Watsco by 2.9% during the 4th quarter. JPMorgan Chase & Co. now owns 477,470 shares of the construction company’s stock valued at $226,268,000 after purchasing an additional 13,409 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

Watsco stock opened at $476.20 on Monday. Watsco, Inc. has a 1-year low of $439.08 and a 1-year high of $571.42. The firm has a market capitalization of $19.24 billion, a P/E ratio of 35.94 and a beta of 1.11. The company’s 50-day moving average is $492.18 and its 200 day moving average is $497.23.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.36). Watsco had a return on equity of 17.59% and a net margin of 7.04%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the company earned $2.17 earnings per share. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. Research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were given a $3.00 dividend. This is a positive change from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Tuesday, April 15th. Watsco’s dividend payout ratio is 92.24%.

Wall Street Analyst Weigh In

Several research analysts have commented on WSO shares. Robert W. Baird dropped their price objective on shares of Watsco from $560.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Mizuho set a $490.00 price objective on shares of Watsco in a report on Thursday, April 24th. StockNews.com raised shares of Watsco from a “sell” rating to a “hold” rating in a report on Friday. Raymond James assumed coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Finally, UBS Group lowered their price target on shares of Watsco from $475.00 to $455.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $480.83.

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.