Hsbc Holdings PLC Has $15.14 Million Position in Watsco, Inc. (NYSE:WSO)

Hsbc Holdings PLC trimmed its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 17.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,918 shares of the construction company's stock after selling 6,855 shares during the period. Hsbc Holdings PLC owned 0.08% of Watsco worth $15,142,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. My Legacy Advisors LLC raised its stake in Watsco by 3.2% in the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company's stock valued at $329,000 after acquiring an additional 21 shares during the period. Avidian Wealth Enterprises LLC raised its position in shares of Watsco by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company's stock valued at $567,000 after purchasing an additional 21 shares during the period. Centennial Wealth Advisory LLC lifted its stake in shares of Watsco by 3.0% during the 4th quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company's stock worth $358,000 after buying an additional 22 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Watsco by 1.4% during the 4th quarter. M&T Bank Corp now owns 1,686 shares of the construction company's stock worth $799,000 after buying an additional 23 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Watsco by 0.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company's stock valued at $3,645,000 after buying an additional 23 shares during the last quarter. 89.71% of the stock is owned by institutional investors.

Watsco Price Performance

WSO stock traded up $11.63 during midday trading on Friday, reaching $472.80. The company had a trading volume of 230,959 shares, compared to its average volume of 254,777. Watsco, Inc. has a 1-year low of $439.08 and a 1-year high of $571.42. The stock has a 50 day moving average price of $494.54 and a 200-day moving average price of $497.65. The company has a market capitalization of $19.10 billion, a price-to-earnings ratio of 35.68 and a beta of 1.11.

Watsco (NYSE:WSO - Get Free Report) last issued its 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). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. Watsco's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.17 earnings per share. As a group, research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share 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 issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.54%. 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 currently 92.24%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on WSO shares. Raymond James initiated coverage on shares of Watsco in a research report on Friday, January 17th. They set a "market perform" rating for the company. StockNews.com downgraded Watsco from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Robert W. Baird lowered their price objective on Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley began coverage on shares of Watsco in a research report on Monday, April 14th. They issued an "equal weight" rating and a $515.00 target price for the company. Finally, Mizuho set a $490.00 price objective on shares of Watsco in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $480.83.

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.