Watsco, Inc. (NYSE:WSO) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. cut its stake in Watsco, Inc. (NYSE:WSO) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,433 shares of the construction company’s stock after selling 595 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Watsco were worth $4,944,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WSO. Sterling Capital Management LLC boosted its stake in shares of Watsco by 55.4% in the fourth quarter. Sterling Capital Management LLC now owns 2,050 shares of the construction company’s stock worth $971,000 after acquiring an additional 731 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in Watsco by 0.7% during the 4th quarter. Treasurer of the State of North Carolina now owns 15,211 shares of the construction company’s stock worth $7,208,000 after purchasing an additional 100 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Watsco by 8.3% during the fourth quarter. Bessemer Group Inc. now owns 341 shares of the construction company’s stock worth $162,000 after buying an additional 26 shares in the last quarter. Abacus FCF Advisors LLC raised its position in shares of Watsco by 44.4% in the fourth quarter. Abacus FCF Advisors LLC now owns 6,048 shares of the construction company’s stock valued at $2,866,000 after buying an additional 1,860 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Watsco by 134.6% in the fourth quarter. Renaissance Technologies LLC now owns 62,400 shares of the construction company’s stock worth $29,571,000 after buying an additional 35,800 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Stock Up 2.0 %

NYSE:WSO opened at $507.62 on Friday. Watsco, Inc. has a 52 week low of $396.82 and a 52 week high of $571.42. The stock’s fifty day moving average is $500.00 and its two-hundred day moving average is $499.23. The company has a market capitalization of $20.51 billion, a P/E ratio of 38.31 and a beta of 1.00.

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

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.36%. 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%.

Wall Street Analysts Forecast Growth

WSO has been the subject of a number of recent research reports. Morgan Stanley started coverage on shares of Watsco in a report on Monday. They issued an “equal weight” rating and a $515.00 price objective for the company. Robert W. Baird lifted 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. Loop Capital upped their target price on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. Finally, Raymond James initiated coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $492.00.

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.