Captrust Financial Advisors Lowers Holdings in Watsco, Inc. (NYSE:WSO)

Captrust Financial Advisors decreased its position in Watsco, Inc. (NYSE:WSO) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,372 shares of the construction company’s stock after selling 1,664 shares during the period. Captrust Financial Advisors’ holdings in Watsco were worth $24,819,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WSO. Vanguard Group Inc. raised 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 acquiring an additional 52,127 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Watsco by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company’s stock worth $649,957,000 after purchasing an additional 118,713 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Watsco by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 725,186 shares of the construction company’s stock worth $343,168,000 after purchasing an additional 20,856 shares during the last quarter. Markel Group Inc. lifted its holdings in shares of Watsco by 1.4% during the fourth 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 in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Watsco by 2.9% during the fourth quarter. JPMorgan Chase & Co. now owns 477,470 shares of the construction company’s stock valued at $226,268,000 after buying an additional 13,409 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Trading Up 1.5 %

WSO opened at $478.95 on Tuesday. The firm’s 50 day simple moving average is $494.16 and its two-hundred day simple moving average is $497.44. The company has a market capitalization of $19.35 billion, a PE ratio of 36.15 and a beta of 1.11. Watsco, Inc. has a 1-year low of $439.08 and a 1-year high of $571.42.

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

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.51%. This is a positive change from Watsco’s previous quarterly dividend of $2.70. The ex-dividend date of this dividend was Tuesday, April 15th. Watsco’s dividend payout ratio is currently 92.24%.

Wall Street Analyst Weigh In

WSO has been the subject of a number of recent analyst reports. Raymond James initiated coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Morgan Stanley assumed coverage on shares of Watsco in a research report on Monday, April 14th. They set an “equal weight” rating and a $515.00 price objective on the stock. Loop Capital lifted their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Mizuho set a $490.00 price target on Watsco in a report on Thursday, April 24th. Finally, UBS Group dropped their price target on Watsco from $475.00 to $455.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Watsco presently has an average rating of “Hold” and a consensus target price of $480.83.

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.