Ossiam Lowers Stock Position in Watsco, Inc. (NYSE:WSO)

Ossiam decreased its position in Watsco, Inc. (NYSE:WSO) by 23.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 369 shares of the construction company’s stock after selling 110 shares during the period. Ossiam’s holdings in Watsco were worth $175,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Watsco by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 3,618,109 shares of the construction company’s stock valued at $1,714,586,000 after purchasing an additional 52,127 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Watsco by 9.5% in the fourth 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 period. Geode Capital Management LLC increased its position 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 valued at $343,168,000 after buying an additional 20,856 shares in the last quarter. Markel Group Inc. raised its stake 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 worth $279,832,000 after buying an additional 8,000 shares during the period. Finally, JPMorgan Chase & Co. lifted its position 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 buying an additional 13,409 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Trading Up 2.0 %

WSO opened at $504.68 on Wednesday. Watsco, Inc. has a twelve month low of $407.00 and a twelve month high of $571.42. The firm has a market capitalization of $20.39 billion, a PE ratio of 38.09 and a beta of 1.00. The firm’s 50-day moving average price is $501.79 and its 200 day moving average price is $499.61.

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

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This is an increase from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.38%. Watsco’s dividend payout ratio (DPR) is 90.57%.

Wall Street Analyst Weigh In

Several brokerages recently commented on WSO. Robert W. Baird boosted their price target on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Loop Capital upped their price target 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. Morgan Stanley began coverage on shares of Watsco in a research note on Monday, April 14th. They issued an “equal weight” rating and a $515.00 price target on the stock. Finally, Raymond James began coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating for the company. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $492.00.

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.