Watsco, Inc. (NYSE:WSO) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its stake in Watsco, Inc. by 41.6%, trimming its holdings to 153,258 shares worth approximately $77.90 million.
• Watsco reported earnings per share of $4.52 for the last quarter, falling short of the consensus estimate by $0.32, while revenue was down 3.6% compared to the same quarter last year.
• The company announced a $3.00 quarterly dividend with an annualized yield of 2.8%, while 89.71% of its stock is owned by hedge funds and institutional investors.

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 41.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 153,258 shares of the construction company's stock after selling 109,179 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.38% of Watsco worth $77,901,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of WSO. Pictet Asset Management Holding SA increased its stake in shares of Watsco by 2.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 16,110 shares of the construction company's stock valued at $7,634,000 after buying an additional 332 shares during the period. O Shaughnessy Asset Management LLC increased its position in Watsco by 20.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,801 shares of the construction company's stock valued at $1,801,000 after acquiring an additional 645 shares during the period. Summit Financial LLC raised its stake in shares of Watsco by 42.3% during the fourth quarter. Summit Financial LLC now owns 710 shares of the construction company's stock valued at $336,000 after acquiring an additional 211 shares during the last quarter. HighPoint Advisor Group LLC bought a new stake in Watsco in the fourth quarter valued at approximately $264,000. Finally, National Bank of Canada FI boosted its position in shares of Watsco by 15.9% during the 4th quarter. National Bank of Canada FI now owns 5,499 shares of the construction company's stock valued at $2,606,000 after purchasing an additional 754 shares in the last quarter. Institutional investors own 89.71% of the company's stock.

Watsco Price Performance

NYSE:WSO traded down $8.61 during mid-day trading on Monday, reaching $426.24. 421,353 shares of the company's stock traded hands, compared to its average volume of 354,751. The company has a 50 day moving average price of $452.11 and a 200-day moving average price of $476.49. Watsco, Inc. has a 12-month low of $418.31 and a 12-month high of $571.41. The firm has a market capitalization of $17.27 billion, a price-to-earnings ratio of 32.69 and a beta of 0.95.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The construction company reported $4.52 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.32). The firm had revenue of $2.06 billion for the quarter, compared to analysts' expectations of $2.24 billion. Watsco had a net margin of 7.08% and a return on equity of 16.96%. The business's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $4.49 EPS. As a group, analysts forecast that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Wednesday, July 16th were issued a $3.00 dividend. The ex-dividend date of this dividend was Wednesday, July 16th. This represents a $12.00 dividend on an annualized basis and a yield of 2.8%. Watsco's payout ratio is currently 92.02%.

Wall Street Analyst Weigh In

A number of brokerages have commented on WSO. Wall Street Zen upgraded shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Morgan Stanley set a $505.00 target price on Watsco in a research report on Wednesday, July 2nd. Robert W. Baird lowered their target price on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Mizuho set a $490.00 price target on shares of Watsco in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Watsco presently has an average rating of "Hold" and an average target price of $484.17.

Watsco Company 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.