Watsco, Inc. (NYSE:WSO) Shares Sold by Tidal Investments LLC

Tidal Investments LLC lowered its position in Watsco, Inc. (NYSE:WSO - Free Report) by 58.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 948 shares of the construction company's stock after selling 1,321 shares during the period. Tidal Investments LLC's holdings in Watsco were worth $449,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of WSO. Rialto Wealth Management LLC acquired a new stake in Watsco during the 4th quarter valued at $31,000. Wingate Wealth Advisors Inc. acquired a new stake in Watsco during the 4th quarter valued at $36,000. Atala Financial Inc acquired a new stake in Watsco during the 4th quarter valued at $49,000. Golden State Wealth Management LLC acquired a new stake in Watsco during the 4th quarter valued at $50,000. Finally, Tortoise Investment Management LLC grew its holdings in Watsco by 76.2% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

Watsco Stock Performance

Shares of WSO traded up $11.30 during trading hours on Tuesday, hitting $445.05. The stock had a trading volume of 283,319 shares, compared to its average volume of 257,869. The firm has a market cap of $18.03 billion, a P/E ratio of 33.59 and a beta of 1.11. The company's fifty day simple moving average is $477.10 and its 200 day simple moving average is $492.53. Watsco, Inc. has a 12-month low of $430.20 and a 12-month high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last issued 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). The firm had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.66 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The company's quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the business posted $2.17 earnings per share. As a group, sell-side analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. UBS Group reduced their price target on Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Mizuho set a $490.00 price target on Watsco in a research note on Thursday, April 24th. JPMorgan Chase & Co. increased their price target on Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 27th. Robert W. Baird reduced their price target on Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Loop Capital increased their price target on Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research note on Thursday, February 27th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $486.67.

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.