Nisa Investment Advisors LLC Sells 440 Shares of Watsco, Inc. (NYSE:WSO)

Nisa Investment Advisors LLC lessened its stake in shares of Watsco, Inc. (NYSE:WSO) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,880 shares of the construction company’s stock after selling 440 shares during the period. Nisa Investment Advisors LLC’s holdings in Watsco were worth $8,473,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in shares of Watsco by 10.6% during the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after purchasing an additional 346,470 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Watsco by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock worth $616,357,000 after buying an additional 62,041 shares in the last quarter. State Street Corp increased its holdings in Watsco by 5.9% in the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock valued at $577,350,000 after buying an additional 65,846 shares during the period. Geode Capital Management LLC raised its position in shares of Watsco by 9.9% in the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock valued at $345,783,000 after buying an additional 63,254 shares in the last quarter. Finally, Markel Group Inc. lifted its holdings in shares of Watsco by 2.0% during the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company’s stock worth $286,520,000 after acquiring an additional 11,250 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WSO. Raymond James initiated coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Robert W. Baird dropped their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Northcoast Research started coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $488.33.

Watsco Stock Performance

NYSE WSO opened at $497.97 on Friday. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The stock has a market cap of $20.11 billion, a PE ratio of 38.48 and a beta of 0.95. The firm’s fifty day moving average price is $505.82 and its two-hundred day moving average price is $492.91.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.35 EPS. As a group, sell-side analysts predict that Watsco, Inc. will post 13.03 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Friday, January 17th. Watsco’s dividend payout ratio is currently 83.46%.

Insider Activity at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.86% of the stock is owned by company insiders.

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.