Watsco, Inc. (NYSE:WSO) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of Watsco, Inc. (NYSE:WSO) by 20.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 262,437 shares of the construction company’s stock after selling 67,670 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Watsco were worth $124,402,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Rialto Wealth Management LLC acquired a new stake in shares of Watsco during the 4th quarter worth $31,000. Wingate Wealth Advisors Inc. purchased a new stake in Watsco during the fourth quarter valued at about $36,000. Quarry LP increased its stake in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after acquiring an additional 33 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Watsco in the 3rd quarter worth about $48,000. Finally, Atala Financial Inc acquired a new position in shares of Watsco in the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Up 3.1 %

NYSE WSO opened at $512.47 on Tuesday. Watsco, Inc. has a fifty-two week low of $396.82 and a fifty-two week high of $571.42. The business has a 50 day moving average price of $494.16 and a two-hundred day moving average price of $497.15. The stock has a market cap of $20.71 billion, a PE ratio of 38.68 and a beta of 0.92.

Watsco (NYSE:WSO) last announced its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share 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 business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. Sell-side analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is 81.51%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WSO. Robert W. Baird increased their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Loop Capital increased their price objective on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Finally, Raymond James initiated coverage on shares of Watsco in a report on Friday, January 17th. They set a “market perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $486.25.

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.