Teza Capital Management LLC Sells 2,612 Shares of Watsco, Inc. (NYSE:WSO)

Teza Capital Management LLC lessened its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 63.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,488 shares of the construction company's stock after selling 2,612 shares during the period. Teza Capital Management LLC's holdings in Watsco were worth $705,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in Watsco in the fourth quarter worth $31,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Watsco during the fourth quarter valued at $36,000. Atala Financial Inc acquired a new position in shares of Watsco during the fourth quarter valued at $49,000. Golden State Wealth Management LLC acquired a new position in shares of Watsco during the fourth quarter valued at $50,000. Finally, Tortoise Investment Management LLC boosted its holdings in shares of Watsco by 76.2% during the fourth quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company's stock valued at $70,000 after acquiring an additional 64 shares during the period. Institutional investors own 89.71% of the company's stock.

Watsco Price Performance

NYSE WSO traded down $2.44 on Thursday, hitting $455.98. 244,407 shares of the company were exchanged, compared to its average volume of 254,699. Watsco, Inc. has a twelve month low of $439.08 and a twelve month high of $571.42. The company's 50 day moving average price is $486.97 and its 200-day moving average price is $496.98. The firm has a market capitalization of $18.47 billion, a P/E ratio of 34.41 and a beta of 1.11.

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

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.63%. The ex-dividend date was Tuesday, April 15th. This is a boost from Watsco's previous quarterly dividend of $2.70. Watsco's payout ratio is 92.24%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WSO. Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Robert W. Baird reduced their price target on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating for the company 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. UBS Group reduced their price target on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Finally, Morgan Stanley initiated coverage on shares of Watsco in a report on Monday, April 14th. They set an "equal weight" rating and a $515.00 price target for the company. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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.