Mirabaud Asset Management Ltd Has $1.50 Million Stake in Watsco, Inc. (NYSE:WSO)

Mirabaud Asset Management Ltd cut its position in Watsco, Inc. (NYSE:WSO) by 8.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,166 shares of the construction company’s stock after selling 279 shares during the quarter. Mirabaud Asset Management Ltd’s holdings in Watsco were worth $1,503,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new position in Watsco in the fourth quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Watsco in the 4th quarter valued at $36,000. Quarry LP increased its stake in shares of Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after purchasing an additional 33 shares during the last quarter. Atala Financial Inc acquired a new position in shares of Watsco during the 4th quarter worth $49,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Watsco during the 4th quarter worth $50,000. Institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

Shares of NYSE WSO opened at $477.78 on Friday. The company has a 50 day simple moving average of $496.34 and a 200 day simple moving average of $499.29. Watsco, Inc. has a 1 year low of $396.82 and a 1 year high of $571.42. The firm has a market cap of $19.30 billion, a PE ratio of 36.06 and a beta of 1.00.

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

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be paid a $3.00 dividend. This is a boost from Watsco’s previous quarterly dividend of $2.70. The ex-dividend date is Tuesday, April 15th. This represents a $12.00 annualized dividend and a dividend yield of 2.51%. Watsco’s dividend payout ratio is presently 81.51%.

Wall Street Analyst Weigh In

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

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.