Cutter & CO Brokerage Inc. Has $5.19 Million Stock Position in Watsco, Inc. (NYSE:WSO)

Cutter & CO Brokerage Inc. reduced its position in shares of Watsco, Inc. (NYSE:WSO) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,116 shares of the construction company’s stock after selling 191 shares during the quarter. Watsco comprises about 1.4% of Cutter & CO Brokerage Inc.’s portfolio, making the stock its 14th biggest position. Cutter & CO Brokerage Inc.’s holdings in Watsco were worth $5,191,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. bought a new stake in Watsco during the 4th quarter worth approximately $25,000. Contravisory Investment Management Inc. bought a new stake in Watsco during the 4th quarter worth approximately $26,000. Rise Advisors LLC bought a new stake in Watsco during the 4th quarter worth approximately $30,000. BKM Wealth Management LLC bought a new stake in Watsco during the 4th quarter worth approximately $32,000. Finally, Hartford Financial Management Inc. increased 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 in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Performance

Shares of NYSE:WSO traded up $7.21 during trading on Tuesday, hitting $413.71. 465,686 shares of the company were exchanged, compared to its average volume of 341,092. The company has a market cap of $16.34 billion, a PE ratio of 30.29 and a beta of 0.89. The stock has a 50 day moving average of $409.13 and a 200 day moving average of $398.83. Watsco, Inc. has a 52-week low of $315.17 and a 52-week high of $447.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.36 and a quick ratio of 1.47.

Watsco (NYSE:WSO) last posted its earnings results 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 analysts’ expectations of $1.65 billion. Watsco had a return on equity of 21.36% and a net margin of 7.36%. The company’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.35 EPS. As a group, equities research analysts predict that Watsco, Inc. will post 14.19 EPS for the current year.

Watsco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Friday, April 12th. This is an increase from Watsco’s previous quarterly dividend of $2.45. Watsco’s dividend payout ratio (DPR) is 79.06%.

Analysts Set New Price Targets

Separately, Robert W. Baird upped their target price on Watsco from $400.00 to $410.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Watsco presently has an average rating of “Hold” and a consensus target price of $398.00.

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.