FineMark National Bank & Trust Has $7.75 Million Stake in Watsco, Inc. (NYSE:WSO)

FineMark National Bank & Trust lowered its holdings in Watsco, Inc. (NYSE:WSO) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 16,355 shares of the construction company’s stock after selling 381 shares during the quarter. FineMark National Bank & Trust’s holdings in Watsco were worth $7,750,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WSO. Rialto Wealth Management LLC acquired a new position in shares of Watsco during the fourth quarter valued at about $31,000. Wingate Wealth Advisors Inc. bought a new position in Watsco in the 4th quarter valued at about $36,000. Quarry LP boosted its stake in Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after purchasing an additional 33 shares during the last quarter. Brooklyn Investment Group acquired a new position in Watsco during the 3rd quarter valued at about $48,000. Finally, Atala Financial Inc bought a new stake in Watsco during the 4th quarter worth approximately $49,000. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

Shares of NYSE:WSO opened at $512.47 on Tuesday. The company has a market capitalization of $20.71 billion, a P/E ratio of 38.68 and a beta of 0.92. The company’s 50-day moving average is $494.16 and its 200 day moving average is $497.15. Watsco, Inc. has a fifty-two week low of $396.82 and a fifty-two week high of $571.42.

Watsco (NYSE:WSO) last released its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share 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 firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. As a group, research analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio is currently 81.51%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Loop Capital raised their target price on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. Raymond James started coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating on the stock. Finally, Robert W. Baird increased their target price on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently 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.