SVB Wealth LLC Sells 58 Shares of Watsco, Inc. (NYSE:WSO)

SVB Wealth LLC reduced its holdings in Watsco, Inc. (NYSE:WSO) by 10.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 517 shares of the construction company’s stock after selling 58 shares during the quarter. SVB Wealth LLC’s holdings in Watsco were worth $222,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of WSO. Contravisory Investment Management Inc. bought a new stake in shares of Watsco in the fourth quarter worth about $26,000. Rise Advisors LLC bought a new stake in shares of Watsco in the fourth quarter worth about $30,000. BKM Wealth Management LLC bought a new stake in shares of Watsco in the fourth quarter worth about $32,000. Hartford Financial Management Inc. increased its holdings in shares of Watsco by 53.1% in the fourth quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock worth $32,000 after acquiring an additional 26 shares in the last quarter. Finally, Raleigh Capital Management Inc. increased its holdings in shares of Watsco by 35.0% in the third quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company’s stock worth $41,000 after acquiring an additional 28 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Up 2.5 %

WSO stock opened at $406.76 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.36 and a quick ratio of 1.47. The stock has a market capitalization of $16.07 billion, a P/E ratio of 29.78 and a beta of 0.89. The business has a 50-day moving average of $408.54 and a 200-day moving average of $398.65. Watsco, Inc. has a fifty-two week low of $315.17 and a fifty-two week high of $447.49.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, February 13th. The construction company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.44). Watsco had a return on equity of 21.36% and a net margin of 7.36%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the company earned $2.35 earnings per share. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that Watsco, Inc. will post 14.19 earnings per share for the current fiscal year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a dividend of $2.70 per share. The ex-dividend date is Friday, April 12th. This is a boost from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a yield of 2.66%. Watsco’s dividend payout ratio is 79.06%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird increased their price target on Watsco from $400.00 to $410.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $398.00.

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.