Carderock Capital Management Inc. Sells 11,677 Shares of Watsco, Inc. $WSO

Carderock Capital Management Inc. lowered its holdings in Watsco, Inc. (NYSE:WSO) by 80.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,822 shares of the construction company’s stock after selling 11,677 shares during the quarter. Carderock Capital Management Inc.’s holdings in Watsco were worth $951,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. SJS Investment Consulting Inc. raised its holdings in shares of Watsco by 2,366.7% during the third quarter. SJS Investment Consulting Inc. now owns 74 shares of the construction company’s stock valued at $30,000 after acquiring an additional 71 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in Watsco by 242.9% in the second quarter. TD Waterhouse Canada Inc. now owns 72 shares of the construction company’s stock worth $33,000 after acquiring an additional 51 shares during the period. TruNorth Capital Management LLC bought a new stake in Watsco in the third quarter valued at $37,000. Capital A Wealth Management LLC increased its position in Watsco by 4,700.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 96 shares of the construction company’s stock valued at $41,000 after purchasing an additional 94 shares during the period. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in Watsco during the 3rd quarter valued at $49,000. 89.71% of the stock is currently owned by institutional investors.

Watsco Trading Up 3.4%

WSO opened at $385.75 on Tuesday. The company has a market cap of $15.66 billion, a price-to-earnings ratio of 31.85 and a beta of 1.03. The stock has a fifty day simple moving average of $395.82 and a two-hundred day simple moving average of $375.37. Watsco, Inc. has a 12-month low of $323.05 and a 12-month high of $521.70.

Watsco (NYSE:WSO) last announced its earnings results on Tuesday, February 17th. The construction company reported $1.68 EPS for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.26). The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.62 billion. Watsco had a net margin of 6.87% and a return on equity of 15.49%. The business’s quarterly revenue was down 9.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.37 EPS. On average, analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 16th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, January 16th. This represents a $12.00 annualized dividend and a yield of 3.1%. Watsco’s payout ratio is presently 99.09%.

Analysts Set New Price Targets

WSO has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Watsco from $370.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, February 19th. Morgan Stanley reduced their price target on shares of Watsco from $460.00 to $370.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 14th. UBS Group initiated coverage on shares of Watsco in a research note on Monday, January 5th. They issued a “neutral” rating and a $370.00 price target for the company. Mizuho set a $425.00 price objective on shares of Watsco in a report on Wednesday, February 18th. Finally, Wolfe Research set a $349.00 price objective on Watsco in a research report on Tuesday, December 9th. One equities research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $409.00.

About Watsco

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.