Watsco, Inc. (NYSE:WSO) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC trimmed its stake in shares of Watsco, Inc. (NYSE:WSO) by 29.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,464 shares of the construction company’s stock after selling 22,083 shares during the period. William Blair Investment Management LLC owned about 0.13% of Watsco worth $24,862,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Rialto Wealth Management LLC acquired a new position in shares of Watsco during the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Watsco during the 4th quarter worth approximately $36,000. Quarry LP raised its position in shares of Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after purchasing an additional 33 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Watsco during the 3rd quarter worth approximately $48,000. Finally, Atala Financial Inc acquired a new position in shares of Watsco during the 4th quarter worth approximately $49,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WSO has been the subject of several research reports. Loop Capital lifted their price objective on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Northcoast Research initiated coverage on Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Robert W. Baird boosted their price target on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Raymond James initiated coverage on Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $486.25.

Watsco Stock Performance

Shares of WSO opened at $508.71 on Wednesday. The stock has a fifty day moving average of $491.26 and a two-hundred day moving average of $495.86. The company has a market capitalization of $20.55 billion, a PE ratio of 38.39 and a beta of 0.92. Watsco, Inc. has a fifty-two week low of $396.82 and a fifty-two week high of $571.42.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. As a group, equities research analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were paid a dividend of $2.70 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.12%. Watsco’s dividend payout ratio is presently 81.51%.

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.