Comerica Bank Has $14.63 Million Position in Watsco, Inc. (NYSE:WSO)

Comerica Bank lessened its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,864 shares of the construction company's stock after selling 1,246 shares during the quarter. Comerica Bank owned 0.08% of Watsco worth $14,626,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WSO. Anchor Investment Management LLC lifted its holdings in shares of Watsco by 500.0% during the 3rd quarter. Anchor Investment Management LLC now owns 228 shares of the construction company's stock valued at $112,000 after buying an additional 190 shares during the last quarter. Tidal Investments LLC grew its position in Watsco by 3.1% in the third quarter. Tidal Investments LLC now owns 2,269 shares of the construction company's stock worth $1,116,000 after acquiring an additional 69 shares in the last quarter. Franklin Resources Inc. increased its stake 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 purchasing an additional 2,738 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of Watsco during the 3rd quarter valued at $1,332,000. Finally, Retirement Systems of Alabama lifted its stake in shares of Watsco by 7.5% in the 3rd quarter. Retirement Systems of Alabama now owns 54,408 shares of the construction company's stock valued at $26,762,000 after purchasing an additional 3,813 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company's stock.

Watsco Price Performance

Shares of NYSE:WSO opened at $462.40 on Friday. The company has a market capitalization of $18.68 billion, a price-to-earnings ratio of 34.90 and a beta of 1.00. The firm's 50 day simple moving average is $495.03 and its 200 day simple moving average is $497.77. 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 announced its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.36). The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.66 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The firm's revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.17 earnings per share. Equities research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were paid a $3.00 dividend. This is a positive change from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a yield of 2.60%. The ex-dividend date was Tuesday, April 15th. Watsco's payout ratio is presently 92.24%.

Analysts Set New Price Targets

A number of brokerages have weighed in on WSO. Mizuho set a $490.00 price target on Watsco in a research report on Thursday, April 24th. Loop Capital increased their price target on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a report on Thursday, February 27th. StockNews.com lowered shares of Watsco from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. UBS Group lowered their target price on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Finally, Robert W. Baird cut their target price on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $480.83.

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.

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