Prospect Capital Advisors LLC Trims Stock Holdings in Watsco, Inc. (NYSE:WSO)

Prospect Capital Advisors LLC trimmed its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 17.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,635 shares of the construction company's stock after selling 2,055 shares during the quarter. Watsco makes up about 2.7% of Prospect Capital Advisors LLC's portfolio, making the stock its 18th biggest position. Prospect Capital Advisors LLC's holdings in Watsco were worth $4,566,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rialto Wealth Management LLC purchased a new stake in shares of Watsco in the fourth quarter worth approximately $31,000. Wingate Wealth Advisors Inc. purchased a new position in Watsco during the 4th quarter worth $36,000. Atala Financial Inc purchased a new position in Watsco during the 4th quarter worth $49,000. Golden State Wealth Management LLC purchased a new position in Watsco during the 4th quarter worth $50,000. Finally, Tortoise Investment Management LLC increased 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 worth $70,000 after purchasing an additional 64 shares during the period. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Price Performance

Watsco stock opened at $476.51 on Thursday. The stock has a market capitalization of $19.25 billion, a price-to-earnings ratio of 35.96 and a beta of 1.11. Watsco, Inc. has a 1-year low of $439.08 and a 1-year high of $571.42. The business has a fifty day moving average price of $490.91 and a 200-day moving average price of $497.03.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 earnings per share for the quarter, missing analysts' consensus estimates of $2.29 by ($0.36). The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.17 EPS. On average, equities research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a yield of 2.52%. This is a boost from Watsco's previous quarterly dividend of $2.70. Watsco's payout ratio is currently 92.24%.

Analyst Ratings Changes

WSO has been the topic of several research reports. Mizuho set a $490.00 price objective on Watsco in a report on Thursday, April 24th. StockNews.com upgraded Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Raymond James began coverage on Watsco in a research report on Friday, January 17th. They set a "market perform" rating on the stock. Morgan Stanley began coverage on Watsco in a research report on Monday, April 14th. They set an "equal weight" rating and a $515.00 target price on the stock. Finally, 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. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Watsco has an average rating of "Hold" and a consensus price target of $480.83.

About Watsco

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.

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