Integrated Wealth Concepts LLC Sells 1,320 Shares of Watsco, Inc. (NYSE:WSO)

Integrated Wealth Concepts LLC reduced its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 41.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,832 shares of the construction company's stock after selling 1,320 shares during the period. Integrated Wealth Concepts LLC's holdings in Watsco were worth $868,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WSO. Tudor Financial Inc. bought a new stake in shares of Watsco during the 3rd quarter worth $588,000. Anchor Investment Management LLC lifted its holdings in shares of Watsco by 500.0% in the third quarter. Anchor Investment Management LLC now owns 228 shares of the construction company's stock worth $112,000 after acquiring an additional 190 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Watsco by 3.1% in the 3rd quarter. Tidal Investments LLC now owns 2,269 shares of the construction company's stock valued at $1,116,000 after purchasing an additional 69 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Watsco by 5.6% during the 3rd quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company's stock valued at $25,645,000 after purchasing an additional 2,738 shares during the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new position in Watsco during the 3rd quarter worth approximately $1,332,000. 89.71% of the stock is currently owned by institutional investors.

Watsco Trading Up 2.5 %

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

Watsco (NYSE:WSO - Get Free Report) last posted 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 in the prior year, the company posted $2.17 earnings per share. The company's revenue for the quarter was down 2.2% compared to the same quarter last year. Research analysts forecast that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a dividend of $3.00 per share. This is an increase from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date was Tuesday, April 15th. Watsco's dividend payout ratio (DPR) is presently 92.24%.

Wall Street Analyst Weigh In

WSO has been the topic of a number of research reports. Robert W. Baird decreased their target price on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Loop Capital increased their target price on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research report on Thursday, February 27th. Mizuho set a $490.00 price target on Watsco in a report on Thursday, April 24th. Morgan Stanley initiated coverage on shares of Watsco in a report on Monday, April 14th. They issued an "equal weight" rating and a $515.00 price objective for the company. Finally, Raymond James assumed coverage on shares of Watsco in a report on Friday, January 17th. They set a "market perform" rating on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company 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.