UniSuper Management Pty Ltd Sells 100 Shares of Watsco, Inc. (NYSE:WSO)

UniSuper Management Pty Ltd cut its holdings in shares of Watsco, Inc. (NYSE:WSO) by 12.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 700 shares of the construction company’s stock after selling 100 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Watsco were worth $332,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Toronto Dominion Bank lifted its position in Watsco by 32.2% during the third quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock worth $2,094,000 after purchasing an additional 1,038 shares during the period. Franklin Resources Inc. boosted its position in shares of Watsco by 5.6% during the 3rd quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock worth $25,645,000 after acquiring an additional 2,738 shares in the last quarter. Benjamin Edwards Inc. increased its stake in Watsco by 2,128.1% in the third quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock valued at $52,880,000 after acquiring an additional 102,640 shares during the last quarter. JPMorgan Chase & Co. raised its position in Watsco by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company’s stock valued at $228,263,000 after purchasing an additional 41,845 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in Watsco during the fourth quarter worth $10,446,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Price Performance

WSO opened at $509.53 on Tuesday. The company’s 50 day moving average price is $496.37 and its two-hundred day moving average price is $499.01. The firm has a market capitalization of $20.59 billion, a price-to-earnings ratio of 38.45 and a beta of 0.92. Watsco, Inc. has a fifty-two week low of $396.82 and a fifty-two week high of $571.42.

Watsco (NYSE:WSO) last announced its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.24. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. As a group, equities research analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is presently 81.51%.

Analyst Upgrades and Downgrades

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

Watsco 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.