Patrick Mauro Investment Advisor INC. Sells 963 Shares of Watsco, Inc. (NYSE:WSO)

Patrick Mauro Investment Advisor INC. cut its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 3.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,494 shares of the construction company's stock after selling 963 shares during the period. Watsco accounts for approximately 6.9% of Patrick Mauro Investment Advisor INC.'s holdings, making the stock its 2nd biggest holding. Patrick Mauro Investment Advisor INC. owned approximately 0.06% of Watsco worth $12,081,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Watsco by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 3,618,109 shares of the construction company's stock worth $1,714,586,000 after purchasing an additional 52,127 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Watsco by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company's stock worth $649,957,000 after purchasing an additional 118,713 shares during the period. Geode Capital Management LLC boosted its position in Watsco by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 725,186 shares of the construction company's stock worth $343,168,000 after purchasing an additional 20,856 shares during the period. Markel Group Inc. boosted its position in Watsco by 1.4% during the 4th quarter. Markel Group Inc. now owns 590,500 shares of the construction company's stock worth $279,832,000 after purchasing an additional 8,000 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Watsco by 2.9% during the 4th quarter. JPMorgan Chase & Co. now owns 477,470 shares of the construction company's stock worth $226,268,000 after purchasing an additional 13,409 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Trading Down 0.2%

NYSE:WSO traded down $1.11 on Friday, reaching $454.98. The stock had a trading volume of 252,686 shares, compared to its average volume of 254,528. The company has a 50-day moving average of $485.90 and a 200 day moving average of $496.61. The stock has a market cap of $18.43 billion, a P/E ratio of 34.34 and a beta of 1.11. Watsco, Inc. has a 12-month low of $439.08 and a 12-month high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.36). Watsco had a return on equity of 17.59% and a net margin of 7.04%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the business posted $2.17 EPS. The business's revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WSO. Loop Capital upped their price target on shares of Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research report on Thursday, February 27th. Robert W. Baird decreased their price target 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. Morgan Stanley started coverage on shares of Watsco in a research report on Monday, April 14th. They issued an "equal weight" rating and a $515.00 price objective for the company. UBS Group decreased their price objective on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Finally, Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $480.83.

Watsco 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.