Envestnet Portfolio Solutions Inc. Reduces Position in Watsco, Inc. (NYSE:WSO)

Envestnet Portfolio Solutions Inc. cut its position in shares of Watsco, Inc. (NYSE:WSO) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,866 shares of the construction company’s stock after selling 32 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Watsco were worth $1,832,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Toronto Dominion Bank boosted its stake in shares of Watsco by 32.2% during the 3rd quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock worth $2,094,000 after purchasing an additional 1,038 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in Watsco by 40.6% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock valued at $1,582,000 after buying an additional 929 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Watsco by 3,571.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock valued at $560,000 after buying an additional 1,107 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Watsco by 5.6% during the 3rd quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock valued at $25,645,000 after buying an additional 2,738 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its holdings in Watsco by 2,128.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock valued at $52,880,000 after buying an additional 102,640 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Watsco Stock Performance

NYSE:WSO opened at $502.84 on Friday. The firm has a market cap of $20.32 billion, a P/E ratio of 37.95 and a beta of 0.92. The firm has a 50-day simple moving average of $492.81 and a 200-day simple moving average of $495.99. Watsco, Inc. has a one year low of $396.82 and a one year high of $571.42.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.13 by $0.24. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. On average, research analysts predict that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Friday, January 17th. 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.