Watsco, Inc. (NYSE:WSO) Shares Sold by Johnson Financial Group Inc.

Johnson Financial Group Inc. reduced its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 74.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 844 shares of the construction company's stock after selling 2,498 shares during the quarter. Johnson Financial Group Inc.'s holdings in Watsco were worth $404,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Watsco in the fourth quarter valued at about $118,312,000. Lord Abbett & CO. LLC purchased a new position in Watsco during the 4th quarter valued at about $104,533,000. Proficio Capital Partners LLC bought a new stake in shares of Watsco in the 4th quarter valued at about $63,603,000. Charles Schwab Investment Management Inc. lifted its position in shares of Watsco by 9.5% in 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. Finally, Vanguard Group Inc. boosted its stake in shares of Watsco by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 3,618,109 shares of the construction company's stock valued at $1,714,586,000 after purchasing an additional 52,127 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Watsco Stock Performance

WSO stock traded up $11.34 during midday trading on Friday, reaching $472.51. The stock had a trading volume of 80,933 shares, compared to its average volume of 254,276. Watsco, Inc. has a 52-week low of $439.08 and a 52-week high of $571.42. The stock has a market cap of $19.09 billion, a PE ratio of 35.66 and a beta of 1.00. The firm has a fifty day simple moving average of $495.03 and a two-hundred day simple moving average of $497.77.

Watsco (NYSE:WSO - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.36). The business had revenue of $1.53 billion for 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 revenue for the quarter was down 2.2% on a year-over-year basis. During the same period last year, the business earned $2.17 EPS. On average, sell-side analysts predict that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.54%. This is a positive change from Watsco's previous quarterly dividend of $2.70. The ex-dividend date was Tuesday, April 15th. Watsco's payout ratio is 92.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WSO shares. UBS Group cut their price target on Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Morgan Stanley initiated coverage on Watsco in a research note on Monday, April 14th. They issued an "equal weight" rating and a $515.00 target price on the stock. Mizuho set a $490.00 price target on shares of Watsco in a research report on Thursday, April 24th. Loop Capital lifted their price objective 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average 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.