BNP Paribas Financial Markets Has $8.73 Million Holdings in Watsco, Inc. (NYSE:WSO)

BNP Paribas Financial Markets cut its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 10.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,418 shares of the construction company's stock after selling 2,167 shares during the quarter. BNP Paribas Financial Markets' holdings in Watsco were worth $8,728,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Rialto Wealth Management LLC acquired a new position in Watsco during the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Watsco in the fourth quarter worth $36,000. Atala Financial Inc acquired a new position in Watsco during the fourth quarter worth $49,000. Golden State Wealth Management LLC bought a new position in Watsco in the fourth quarter valued at $50,000. Finally, Tortoise Investment Management LLC grew its position in Watsco by 76.2% in the fourth quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company's stock valued at $70,000 after purchasing an additional 64 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WSO. Robert W. Baird reduced their price objective on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Mizuho set a $490.00 target price on Watsco in a report on Thursday, April 24th. Loop Capital raised their price target on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research note on Thursday, February 27th. Morgan Stanley began coverage on Watsco in a research report on Monday, April 14th. They set an "equal weight" rating and a $515.00 price target on the stock. Finally, Raymond James began coverage on Watsco in a report on Friday, January 17th. They issued a "market perform" rating for the company. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $480.83.

Watsco Price Performance

NYSE WSO traded up $0.53 during trading on Thursday, reaching $478.93. 188,104 shares of the company's stock were exchanged, compared to its average volume of 253,421. The business has a 50 day moving average price of $490.91 and a 200-day moving average price of $497.03. The stock has a market capitalization of $19.35 billion, a P/E ratio of 36.15 and a beta of 1.11. Watsco, Inc. has a fifty-two week low of $439.08 and a fifty-two week high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share for the quarter, missing analysts' consensus estimates of $2.29 by ($0.36). Watsco had a return on equity of 17.59% and a net margin of 7.04%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the firm posted $2.17 earnings per share. The firm's revenue was down 2.2% compared to the same quarter last year. On average, analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a $3.00 dividend. This is an increase from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Tuesday, April 15th. Watsco's payout ratio is currently 92.24%.

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.