Cambridge Trust Co. Sells 85 Shares of Watsco, Inc. (NYSE:WSO)

Cambridge Trust Co. lowered its stake in Watsco, Inc. (NYSE:WSO) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,797 shares of the construction company’s stock after selling 85 shares during the period. Cambridge Trust Co.’s holdings in Watsco were worth $1,627,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Contravisory Investment Management Inc. acquired a new stake in shares of Watsco in the 4th quarter valued at $26,000. Rise Advisors LLC acquired a new stake in Watsco in the fourth quarter worth about $30,000. BKM Wealth Management LLC bought a new stake in Watsco during the 4th quarter worth about $32,000. Hartford Financial Management Inc. raised its holdings in Watsco by 53.1% during the 4th quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock worth $32,000 after purchasing an additional 26 shares during the last quarter. Finally, Allworth Financial LP lifted its position in Watsco by 44.1% during the 4th quarter. Allworth Financial LP now owns 98 shares of the construction company’s stock valued at $42,000 after purchasing an additional 30 shares during the period. Institutional investors own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird raised their price objective on shares of Watsco from $400.00 to $410.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. One investment 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. Based on data from MarketBeat, Watsco currently has an average rating of “Hold” and an average price target of $396.00.

Watsco Stock Performance

WSO stock opened at $401.84 on Friday. Watsco, Inc. has a 1-year low of $314.87 and a 1-year high of $447.49. The company has a current ratio of 3.36, a quick ratio of 1.47 and a debt-to-equity ratio of 0.01. The firm has a market cap of $15.87 billion, a PE ratio of 29.42 and a beta of 0.90. The business’s 50-day moving average price is $408.99 and its two-hundred day moving average price is $398.05.

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

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be paid a $2.70 dividend. This is a boost from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date of this dividend is Friday, April 12th. This represents a $10.80 annualized dividend and a yield of 2.69%. Watsco’s payout ratio is presently 79.06%.

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.