Alerus Financial NA Sells 161 Shares of Watsco, Inc. (NYSE:WSO)

Alerus Financial NA reduced its position in shares of Watsco, Inc. (NYSE:WSO) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,677 shares of the construction company’s stock after selling 161 shares during the quarter. Alerus Financial NA’s holdings in Watsco were worth $5,060,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WSO. Level Four Advisory Services LLC raised its stake in Watsco by 0.9% in the fourth quarter. Level Four Advisory Services LLC now owns 5,176 shares of the construction company’s stock valued at $2,453,000 after purchasing an additional 48 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Watsco by 2.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 16,110 shares of the construction company’s stock worth $7,634,000 after acquiring an additional 332 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Watsco by 37.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 13,662 shares of the construction company’s stock valued at $6,474,000 after acquiring an additional 3,720 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Watsco in the 4th quarter valued at $3,376,000. Finally, Norges Bank bought a new position in shares of Watsco in the fourth quarter worth about $118,312,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Trading Up 0.4 %

Shares of WSO opened at $515.34 on Friday. The company has a market capitalization of $20.82 billion, a price-to-earnings ratio of 38.89 and a beta of 0.92. The stock has a 50 day moving average of $496.05 and a 200 day moving average of $497.87. Watsco, Inc. has a 12 month low of $396.82 and a 12 month high of $571.42.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. As a group, equities research analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were given a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.10%. Watsco’s dividend payout ratio (DPR) is presently 81.51%.

Analysts Set New Price Targets

WSO has been the subject of several research reports. Raymond James initiated coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Loop Capital raised their price objective on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Finally, Robert W. Baird increased their price target on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Watsco presently has a consensus rating of “Hold” and an average price target of $486.25.

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.