Voya Investment Management LLC Sells 1,938 Shares of Watsco, Inc. (NYSE:WSO)

Voya Investment Management LLC lessened its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 12.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,173 shares of the construction company's stock after selling 1,938 shares during the quarter. Voya Investment Management LLC's holdings in Watsco were worth $6,243,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on WSO. Raymond James initiated coverage on shares of Watsco in a report on Friday, January 17th. They set a "market perform" rating for the company. Morgan Stanley assumed 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. Robert W. Baird dropped their price objective 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. StockNews.com cut Watsco from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Finally, Mizuho set a $490.00 target price on Watsco in a report on Thursday, April 24th. One 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's stock. According to MarketBeat, Watsco has a consensus rating of "Hold" and a consensus price target of $480.83.

Watsco Stock Down 1.1 %

Shares of NYSE:WSO traded down $5.30 during trading on Tuesday, reaching $473.60. The stock had a trading volume of 46,048 shares, compared to its average volume of 253,861. The firm has a market capitalization of $19.14 billion, a price-to-earnings ratio of 35.74 and a beta of 1.11. Watsco, Inc. has a 52 week low of $439.08 and a 52 week high of $571.42. The stock has a fifty day simple moving average of $494.16 and a two-hundred day simple moving average of $497.44.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (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 for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm posted $2.17 earnings per share. The business's revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts forecast that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were issued a $3.00 dividend. This is an increase from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Tuesday, April 15th. Watsco's payout ratio is presently 92.24%.

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.