Dynamic Technology Lab Private Ltd Sells 1,731 Shares of Watsco, Inc. (NYSE:WSO)

Dynamic Technology Lab Private Ltd lowered its stake in Watsco, Inc. (NYSE:WSO) by 63.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 990 shares of the construction company’s stock after selling 1,731 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Watsco were worth $469,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rialto Wealth Management LLC acquired a new stake in shares of Watsco in the 4th quarter valued at about $31,000. Wingate Wealth Advisors Inc. acquired a new stake in Watsco in the 4th quarter valued at approximately $36,000. Quarry LP lifted its stake in Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after acquiring an additional 33 shares in the last quarter. Atala Financial Inc acquired a new position in Watsco during the 4th quarter worth approximately $49,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Watsco during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

Shares of WSO stock opened at $461.08 on Wednesday. Watsco, Inc. has a 52-week low of $396.82 and a 52-week high of $571.42. The stock has a market cap of $18.63 billion, a price-to-earnings ratio of 34.80 and a beta of 1.00. The firm’s 50-day moving average is $495.06 and its 200-day moving average is $498.77.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.24. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. Sell-side analysts predict that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a $3.00 dividend. This is an increase from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Tuesday, April 15th. Watsco’s payout ratio is currently 90.57%.

Wall Street Analysts Forecast Growth

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