iSAM Funds UK Ltd Sells 728 Shares of Watsco, Inc. (NYSE:WSO)

iSAM Funds UK Ltd decreased its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 62.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 439 shares of the construction company's stock after selling 728 shares during the period. iSAM Funds UK Ltd's holdings in Watsco were worth $208,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Avidian Wealth Enterprises LLC increased its holdings in shares of Watsco by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company's stock worth $567,000 after buying an additional 21 shares during the last quarter. Centennial Wealth Advisory LLC increased its holdings in shares of Watsco by 3.0% in the 4th quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company's stock worth $358,000 after buying an additional 22 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Watsco by 1.4% in the 4th quarter. M&T Bank Corp now owns 1,686 shares of the construction company's stock worth $799,000 after buying an additional 23 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Watsco by 0.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company's stock worth $3,645,000 after buying an additional 23 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Watsco by 1.2% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,949 shares of the construction company's stock worth $924,000 after buying an additional 23 shares during the last quarter. Institutional investors own 89.71% of the company's stock.

Watsco Stock Performance

Shares of Watsco stock traded up $2.55 during trading on Tuesday, hitting $457.77. The company's stock had a trading volume of 59,253 shares, compared to its average volume of 282,485. The company has a fifty day simple moving average of $484.85 and a two-hundred day simple moving average of $495.90. The company has a market capitalization of $18.54 billion, a PE ratio of 34.55 and a beta of 1.11. Watsco, Inc. has a 52 week low of $439.08 and a 52 week high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last issued 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 in the previous year, the business earned $2.17 earnings per share. As a group, analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.62%. This is a positive change from Watsco's previous quarterly dividend of $2.70. The ex-dividend date of this dividend was Tuesday, April 15th. Watsco's dividend payout ratio (DPR) is presently 92.24%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird cut 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. UBS Group cut their price objective on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Morgan Stanley assumed coverage on shares of Watsco in a research note on Monday, April 14th. They issued an "equal weight" rating and a $515.00 price objective for the company. Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Finally, Mizuho set a $490.00 price objective on shares of Watsco in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Watsco currently has a consensus rating of "Hold" and an average 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.