Nuveen Asset Management LLC Sells 6,286 Shares of Watsco, Inc. (NYSE:WSO)

Nuveen Asset Management LLC lowered its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 83,561 shares of the construction company's stock after selling 6,286 shares during the quarter. Nuveen Asset Management LLC owned about 0.21% of Watsco worth $39,599,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Rialto Wealth Management LLC bought a new position in Watsco in the fourth quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. bought a new position in Watsco in the fourth quarter valued at approximately $36,000. Atala Financial Inc bought a new position in Watsco in the fourth quarter valued at approximately $49,000. Golden State Wealth Management LLC bought a new position in Watsco in the fourth quarter valued at approximately $50,000. Finally, Tortoise Investment Management LLC lifted its stake 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 buying an additional 64 shares in the last quarter. Institutional investors own 89.71% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Morgan Stanley began coverage on shares of Watsco in a report on Monday, April 14th. They issued an "equal weight" rating and a $515.00 price objective on the stock. Loop Capital lifted their price objective on shares of Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a report on Thursday, February 27th. Mizuho set a $490.00 price objective on shares of Watsco in a report on Thursday, April 24th. Finally, Robert W. Baird lowered their price objective 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. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $480.83.

Watsco Trading Down 0.2%

Shares of WSO traded down $1.11 during midday trading on Friday, reaching $454.98. The stock had a trading volume of 252,686 shares, compared to its average volume of 254,667. The firm has a 50 day simple moving average of $485.90 and a 200-day simple moving average of $496.75. Watsco, Inc. has a one year low of $439.08 and a one year high of $571.42. The firm has a market cap of $18.43 billion, a PE ratio of 34.34 and a beta of 1.11.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing analysts' consensus estimates of $2.29 by ($0.36). Watsco had a net margin of 7.04% and a return on equity of 17.59%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the business earned $2.17 EPS. The business's revenue was down 2.2% on a year-over-year basis. As a group, research analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Tuesday, April 15th. This is an increase from Watsco's previous quarterly dividend of $2.70. Watsco's dividend payout ratio (DPR) is 92.24%.

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.