Watsco, Inc. (NYSE:WSO) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its holdings in shares of Watsco, Inc. (NYSE:WSO) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,409 shares of the construction company’s stock after selling 1,729 shares during the quarter. Corebridge Financial Inc. owned approximately 0.10% of Watsco worth $18,676,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new stake in shares of Watsco in the fourth quarter worth $31,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Watsco in the 4th quarter worth about $36,000. Quarry LP raised its stake in shares of 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 purchasing an additional 33 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Watsco during the third quarter worth about $48,000. Finally, Atala Financial Inc acquired a new position in Watsco in the fourth quarter worth about $49,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Price Performance

Shares of WSO opened at $512.47 on Tuesday. Watsco, Inc. has a 12 month low of $396.82 and a 12 month high of $571.42. The stock has a fifty day moving average price of $494.16 and a 200 day moving average price of $497.15. The company has a market cap of $20.71 billion, a P/E ratio of 38.68 and a beta of 0.92.

Watsco (NYSE:WSO) last released its quarterly earnings data 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. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. As a group, research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.11%. Watsco’s dividend payout ratio is presently 81.51%.

Analyst Ratings Changes

Several brokerages have issued reports on WSO. Robert W. Baird upped their price objective on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Raymond James started coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating on the stock. Finally, Loop Capital boosted their target price on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research note on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $486.25.

Watsco Company Profile

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.