Watsco, Inc. (NYSE:WSO) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC lessened its stake in Watsco, Inc. (NYSE:WSO) by 42.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 33,363 shares of the construction company’s stock after selling 24,447 shares during the quarter. River Road Asset Management LLC’s holdings in Watsco were worth $14,295,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new position in Watsco during the 4th quarter worth approximately $26,000. Rise Advisors LLC purchased a new position in Watsco in the fourth quarter valued at $30,000. BKM Wealth Management LLC purchased a new position in Watsco in the fourth quarter valued at $32,000. Hartford Financial Management Inc. raised its stake in Watsco by 53.1% in the fourth quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock valued at $32,000 after buying an additional 26 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Watsco during the 1st quarter worth about $38,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Down 2.3 %

Watsco stock opened at $403.94 on Thursday. The company has a market capitalization of $15.96 billion, a P/E ratio of 29.57 and a beta of 0.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 3.36. Watsco, Inc. has a fifty-two week low of $313.27 and a fifty-two week high of $447.49. The stock has a 50-day simple moving average of $409.14 and a 200-day simple moving average of $398.02.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, February 13th. The construction company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.44). The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Watsco had a net margin of 7.36% and a return on equity of 21.36%. Watsco’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.35 EPS. Equities research analysts expect that Watsco, Inc. will post 14.19 earnings per share for the current year.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a dividend of $2.70 per share. The ex-dividend date is Friday, April 12th. This represents a $10.80 dividend on an annualized basis and a yield of 2.67%. This is a boost from Watsco’s previous quarterly dividend of $2.45. Watsco’s dividend payout ratio is currently 79.06%.

Analyst Ratings Changes

Separately, Robert W. Baird increased their price objective on Watsco from $400.00 to $410.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $396.00.

Watsco 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.