Mercer Global Advisors Inc. ADV Sells 945 Shares of Watsco, Inc. (NYSE:WSO)

Mercer Global Advisors Inc. ADV trimmed its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 25.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,797 shares of the construction company's stock after selling 945 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Watsco were worth $1,325,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new stake in shares of Watsco in the 4th quarter valued at about $31,000. Wingate Wealth Advisors Inc. bought a new stake in Watsco in the 4th quarter valued at approximately $36,000. Atala Financial Inc bought a new stake in Watsco in the 4th quarter valued at approximately $49,000. Golden State Wealth Management LLC acquired a new position in Watsco during the 4th quarter worth approximately $50,000. Finally, Tortoise Investment Management LLC grew its stake in shares of Watsco by 76.2% during the 4th quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company's stock worth $70,000 after acquiring an additional 64 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on WSO shares. UBS Group reduced their target price on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Raymond James initiated coverage on Watsco in a report on Friday, January 17th. They issued a "market perform" rating for the company. Morgan Stanley started coverage on Watsco in a report on Monday, April 14th. They set an "equal weight" rating and a $515.00 target price on the stock. Robert W. Baird decreased their price target on Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, StockNews.com upgraded Watsco from a "sell" rating to a "hold" rating in a research note on Friday. Seven equities research 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 has an average rating of "Hold" and a consensus target price of $480.83.

Watsco Trading Up 1.4 %

NYSE:WSO traded up $6.77 on Friday, hitting $476.20. The company's stock had a trading volume of 184,505 shares, compared to its average volume of 252,690. Watsco, Inc. has a one year low of $439.08 and a one year high of $571.42. The stock has a fifty day moving average of $492.18 and a two-hundred day moving average of $497.23. The firm has a market capitalization of $19.24 billion, a P/E ratio of 35.94 and a beta of 1.11.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly 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). Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the business earned $2.17 EPS. The company's revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate 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. Shareholders of record on Tuesday, April 15th were issued a $3.00 dividend. This is a boost from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a yield of 2.52%. The ex-dividend date was Tuesday, April 15th. Watsco's dividend payout ratio is currently 92.24%.

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.