Zurcher Kantonalbank Zurich Cantonalbank Lowers Holdings in Watsco, Inc. (NYSE:WSO)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Watsco, Inc. (NYSE:WSO) by 1.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 16,432 shares of the construction company’s stock after selling 228 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Watsco were worth $7,041,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WSO. American Century Companies Inc. grew its holdings in Watsco by 13.2% in the 1st quarter. American Century Companies Inc. now owns 2,280 shares of the construction company’s stock valued at $695,000 after buying an additional 265 shares during the period. Cetera Advisor Networks LLC acquired a new position in shares of Watsco in the 1st quarter valued at about $229,000. Bank of Montreal Can lifted its stake in shares of Watsco by 2.8% in the 1st quarter. Bank of Montreal Can now owns 7,429 shares of the construction company’s stock valued at $2,290,000 after purchasing an additional 201 shares in the last quarter. APG Asset Management N.V. acquired a new position in shares of Watsco in the 1st quarter valued at about $246,000. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Watsco by 9.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 19,121 shares of the construction company’s stock valued at $5,997,000 after purchasing an additional 1,596 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lifted their price objective on Watsco from $400.00 to $410.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Watsco presently has an average rating of “Hold” and a consensus price target of $396.00.

Watsco Stock Performance

Watsco stock opened at $396.92 on Friday. The stock’s 50 day moving average price is $408.62 and its 200 day moving average price is $398.39. The firm has a market capitalization of $15.68 billion, a PE ratio of 29.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 3.36. Watsco, Inc. has a one year low of $315.17 and a one year high of $447.49.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, February 13th. The construction company reported $2.06 EPS 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 company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the firm posted $2.35 earnings per share. The business’s revenue was up 1.4% on a year-over-year basis. As a group, sell-side analysts expect that Watsco, Inc. will post 14.19 EPS for the current fiscal year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.72%. This is a positive change from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date of this dividend is Friday, April 12th. Watsco’s dividend payout ratio is presently 79.06%.

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.