Bokf Na Sells 2,722 Shares of Watsco, Inc. $WSO

Bokf Na decreased its stake in Watsco, Inc. (NYSE:WSO) by 40.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,981 shares of the construction company’s stock after selling 2,722 shares during the period. Bokf Na’s holdings in Watsco were worth $1,341,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Capital International Investors grew its holdings in Watsco by 741.4% during the 3rd quarter. Capital International Investors now owns 2,285,895 shares of the construction company’s stock worth $924,187,000 after acquiring an additional 2,014,233 shares during the period. State Street Corp boosted its holdings in shares of Watsco by 1.4% during the 3rd quarter. State Street Corp now owns 1,238,121 shares of the construction company’s stock worth $500,572,000 after buying an additional 16,595 shares in the last quarter. M&T Bank Corp lifted its position in shares of Watsco by 60,779.4% during the 4th quarter. M&T Bank Corp now owns 599,662 shares of the construction company’s stock valued at $202,056,000 after acquiring an additional 598,677 shares during the period. DAVENPORT & Co LLC boosted its stake in Watsco by 31.8% during the fourth quarter. DAVENPORT & Co LLC now owns 470,177 shares of the construction company’s stock worth $159,293,000 after acquiring an additional 113,333 shares in the last quarter. Finally, Hamlin Capital Management LLC boosted its stake in Watsco by 13.3% during the third quarter. Hamlin Capital Management LLC now owns 405,480 shares of the construction company’s stock worth $163,936,000 after acquiring an additional 47,643 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WSO has been the subject of several research analyst reports. Wall Street Zen raised shares of Watsco from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Morgan Stanley cut their price target on Watsco from $460.00 to $370.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 14th. JPMorgan Chase & Co. boosted their price objective on Watsco from $370.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, February 19th. Zacks Research raised Watsco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. Finally, Stephens increased their target price on shares of Watsco from $475.00 to $485.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $399.83.

Watsco Stock Down 2.2%

Shares of Watsco stock opened at $419.93 on Friday. The business has a 50 day moving average of $399.21 and a 200 day moving average of $378.37. The company has a market cap of $17.05 billion, a PE ratio of 34.85 and a beta of 1.12. Watsco, Inc. has a 52 week low of $323.05 and a 52 week high of $496.25.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Tuesday, April 28th. The construction company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.14. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Watsco had a net margin of 6.85% and a return on equity of 15.31%. Watsco’s revenue was up .1% on a year-over-year basis. During the same period last year, the company posted $1.93 EPS. On average, research analysts anticipate that Watsco, Inc. will post 12.7 earnings per share for the current year.

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Thursday, April 16th were issued a $3.30 dividend. This is an increase from Watsco’s previous quarterly dividend of $3.00. This represents a $13.20 annualized dividend and a yield of 3.1%. The ex-dividend date was Thursday, April 16th. Watsco’s dividend payout ratio is 109.54%.

Watsco Company Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.