Watsco, Inc. (NYSE:WSO) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its holdings in Watsco, Inc. (NYSE:WSO) by 8.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,620 shares of the construction company’s stock after selling 354 shares during the period. Federated Hermes Inc.’s holdings in Watsco were worth $1,551,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Watsco in the 4th quarter worth approximately $43,000. Daiwa Securities Group Inc. increased its holdings in shares of Watsco by 5.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,100 shares of the construction company’s stock valued at $900,000 after purchasing an additional 100 shares during the period. Hamilton Point Investment Advisors LLC increased its holdings in shares of Watsco by 0.8% during the fourth quarter. Hamilton Point Investment Advisors LLC now owns 13,400 shares of the construction company’s stock valued at $5,742,000 after purchasing an additional 111 shares during the period. Flputnam Investment Management Co. bought a new stake in shares of Watsco during the fourth quarter valued at about $207,000. Finally, Mackenzie Financial Corp acquired a new stake in Watsco in the fourth quarter worth about $2,516,000. 89.71% of the stock is currently owned by institutional investors.

Watsco Price Performance

Shares of NYSE WSO opened at $447.64 on Tuesday. Watsco, Inc. has a twelve month low of $315.17 and a twelve month high of $451.29. The company has a current ratio of 2.92, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $413.68 and a two-hundred day moving average of $400.10. The company has a market capitalization of $17.68 billion, a price-to-earnings ratio of 34.43 and a beta of 0.89.

Watsco (NYSE:WSO) last released its earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the firm earned $2.83 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, analysts expect that Watsco, Inc. will post 14.25 earnings per share for the current fiscal year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Friday, April 12th. This is an increase from Watsco’s previous quarterly dividend of $2.45. Watsco’s dividend payout ratio is 83.08%.

Wall Street Analyst Weigh In

Several research firms have commented on WSO. Robert W. Baird raised their target price on shares of Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Stephens reiterated an “overweight” rating and issued a $500.00 price objective on shares of Watsco in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $404.25.

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.