Northwest & Ethical Investments L.P. Sells 3,320 Shares of Watsco, Inc. (NYSE:WSO)

Northwest & Ethical Investments L.P. lessened its stake in shares of Watsco, Inc. (NYSE:WSO) by 42.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,552 shares of the construction company’s stock after selling 3,320 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Watsco were worth $2,157,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in WSO. FMR LLC lifted its position in Watsco by 10.6% in the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock valued at $1,782,651,000 after acquiring an additional 346,470 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Watsco during the fourth quarter valued at approximately $63,603,000. Charles Schwab Investment Management Inc. grew its holdings in Watsco by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company’s stock worth $649,957,000 after buying an additional 118,713 shares in the last quarter. Benjamin Edwards Inc. raised its position in Watsco by 2,128.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock valued at $52,880,000 after buying an additional 102,640 shares during the last quarter. Finally, State Street Corp lifted its stake in Watsco by 5.9% during the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock valued at $577,350,000 after acquiring an additional 65,846 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WSO. Raymond James assumed coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating on the stock. Robert W. Baird lifted their price target on 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 objective on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research note on Thursday, February 27th. Finally, Northcoast Research started coverage on Watsco in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Watsco presently has an average rating of “Hold” and an average target price of $486.25.

Watsco Stock Performance

WSO stock opened at $495.89 on Friday. The stock has a fifty day moving average of $493.43 and a 200-day moving average of $496.13. Watsco, Inc. has a fifty-two week low of $396.82 and a fifty-two week high of $571.42. The company has a market capitalization of $20.04 billion, a price-to-earnings ratio of 37.43 and a beta of 0.92.

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 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 during the quarter, compared to analyst estimates of $1.67 billion. Equities analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were issued a dividend of $2.70 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.18%. Watsco’s payout ratio is 81.51%.

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.