Access Financial Services Inc. Has $1.42 Million Holdings in Watsco, Inc. (NYSE:WSO)

Access Financial Services Inc. cut its holdings in shares of Watsco, Inc. (NYSE:WSO) by 15.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,323 shares of the construction company’s stock after selling 594 shares during the period. Access Financial Services Inc.’s holdings in Watsco were worth $1,424,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in WSO. Contravisory Investment Management Inc. acquired a new position in Watsco during the 4th quarter valued at about $26,000. Rise Advisors LLC bought a new stake in shares of Watsco in the 4th quarter valued at about $30,000. BKM Wealth Management LLC bought a new stake in shares of Watsco in the 4th quarter valued at about $32,000. FNY Investment Advisers LLC bought a new stake in shares of Watsco in the 3rd quarter valued at about $37,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Watsco in the 1st quarter valued at about $38,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on WSO shares. Robert W. Baird upped their price target on Watsco from $400.00 to $410.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft raised Watsco from a “hold” rating to a “buy” rating and upped their price target for the company from $387.00 to $500.00 in a research note on Friday, December 8th. Finally, Stephens upped their price target on Watsco from $450.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, December 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Watsco has a consensus rating of “Hold” and an average price target of $396.00.

Watsco Price Performance

NYSE WSO opened at $431.97 on Friday. The business has a 50 day simple moving average of $400.26 and a 200 day simple moving average of $391.15. Watsco, Inc. has a 52-week low of $298.79 and a 52-week high of $441.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 3.36. The stock has a market cap of $17.06 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 3.37 and a beta of 0.89.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, February 13th. The construction company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.44). Watsco had a return on equity of 21.36% and a net margin of 7.36%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the firm earned $2.35 earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. Analysts anticipate that Watsco, Inc. will post 14.26 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 17th were given a $2.45 dividend. The ex-dividend date of this dividend was Tuesday, January 16th. This represents a $9.80 dividend on an annualized basis and a dividend yield of 2.27%. Watsco’s payout ratio is presently 71.74%.

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.