Federated Hermes Inc. Sells 153 Shares of Watsco, Inc. (NYSE:WSO)

Federated Hermes Inc. lessened its position in Watsco, Inc. (NYSE:WSO) by 4.7% in the 4th quarter, Holdings Channel reports. The firm owned 3,102 shares of the construction company’s stock after selling 153 shares during the period. Federated Hermes Inc.’s holdings in Watsco were worth $1,470,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Toronto Dominion Bank lifted its holdings in Watsco by 32.2% during the third quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock worth $2,094,000 after acquiring an additional 1,038 shares in the last quarter. Tudor Financial Inc. bought a new position in shares of Watsco during the 3rd quarter valued at about $588,000. Anchor Investment Management LLC grew its position in shares of Watsco by 500.0% in the 3rd quarter. Anchor Investment Management LLC now owns 228 shares of the construction company’s stock valued at $112,000 after purchasing an additional 190 shares during the period. Sanctuary Advisors LLC increased its stake in Watsco by 1.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,088 shares of the construction company’s stock worth $3,978,000 after purchasing an additional 107 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in Watsco by 3.1% during the 3rd quarter. Tidal Investments LLC now owns 2,269 shares of the construction company’s stock worth $1,116,000 after buying an additional 69 shares during the period. 89.71% of the stock is owned by institutional investors.

Watsco Stock Performance

NYSE:WSO opened at $516.23 on Tuesday. The stock’s 50-day simple moving average is $497.82 and its 200 day simple moving average is $499.05. Watsco, Inc. has a 52-week low of $396.82 and a 52-week high of $571.42. The company has a market cap of $20.86 billion, a P/E ratio of 38.96 and a beta of 1.00.

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, topping analysts’ consensus estimates of $2.13 by $0.24. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. As a group, equities analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Tuesday, April 15th. This is an increase from Watsco’s previous quarterly dividend of $2.70. Watsco’s dividend payout ratio (DPR) is 90.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on WSO shares. 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. Raymond James began coverage on Watsco in a research note on Friday, January 17th. They issued a “market perform” rating on the stock. Robert W. Baird upped their price objective on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley assumed coverage on Watsco in a research report on Monday. They issued an “equal weight” rating and a $515.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Watsco currently has an average rating of “Hold” and a consensus price target of $492.00.

Watsco 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.