Janney Montgomery Scott LLC Sells 1,175 Shares of Watsco, Inc. (NYSE:WSO)

Posted by on Apr 21st, 2023

Janney Montgomery Scott LLC decreased its holdings in shares of Watsco, Inc. (NYSE:WSO – Get Rating) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,293 shares of the construction company’s stock after selling 1,175 shares during the quarter. Janney Montgomery Scott LLC owned 0.07% of Watsco worth $6,807,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Eagle Asset Management Inc. grew its stake in shares of Watsco by 18.1% during the third quarter. Eagle Asset Management Inc. now owns 12,852 shares of the construction company’s stock valued at $3,308,000 after buying an additional 1,968 shares during the last quarter. Advisors Capital Management LLC grew its stake in Watsco by 29.6% in the third quarter. Advisors Capital Management LLC now owns 16,952 shares of the construction company’s stock worth $4,748,000 after purchasing an additional 3,870 shares in the last quarter. WCM Investment Management LLC grew its stake in Watsco by 1.9% in the third quarter. WCM Investment Management LLC now owns 2,862 shares of the construction company’s stock worth $733,000 after purchasing an additional 52 shares in the last quarter. Coldstream Capital Management Inc. bought a new position in Watsco in the fourth quarter worth approximately $1,583,000. Finally, State of New Jersey Common Pension Fund D grew its stake in Watsco by 12.0% in the third quarter. State of New Jersey Common Pension Fund D now owns 19,343 shares of the construction company’s stock worth $4,980,000 after purchasing an additional 2,068 shares in the last quarter. Institutional investors own 84.73% of the company’s stock.

Watsco Stock Performance

Shares of WSO opened at $342.93 on Friday. Watsco, Inc. has a 12 month low of $220.68 and a 12 month high of $356.60. The stock has a fifty day moving average price of $307.72 and a 200-day moving average price of $281.59. The company has a current ratio of 2.54, a quick ratio of 1.02 and a debt-to-equity ratio of 0.01. The firm has a market cap of $13.32 billion, a PE ratio of 22.25 and a beta of 0.91.

Watsco (NYSE:WSO – Get Rating) last issued its quarterly earnings data on Thursday, February 16th. The construction company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.12 by $0.23. Watsco had a return on equity of 25.17% and a net margin of 8.26%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the business posted $2.02 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities research analysts predict that Watsco, Inc. will post 13.85 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Monday, April 17th will be issued a dividend of $2.45 per share. The ex-dividend date is Friday, April 14th. This represents a $9.80 annualized dividend and a dividend yield of 2.86%. Watsco’s dividend payout ratio is presently 63.60%.

Wall Street Analysts Forecast Growth

WSO has been the topic of several research analyst reports. StockNews.com initiated coverage on Watsco in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Stephens increased their price objective on Watsco from $300.00 to $375.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 21st. Robert W. Baird upped their target price on Watsco from $350.00 to $355.00 and gave the stock an “outperform” rating in a report on Wednesday. KeyCorp upped their target price on Watsco from $335.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, February 17th. Finally, UBS Group assumed coverage on Watsco in a report on Tuesday, January 10th. They set a “neutral” rating and a $280.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $323.00.

Watsco Profile

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Watsco, Inc engages in the distribution of air conditioning, heating and refrigeration equipment, and related parts and supplies. Its products include residential central air conditioners, gas, electric & oil furnaces, commercial air conditioning and heating equipment, and other specialized equipment and parts, including replacement compressors, evaporator coils, motors and other component parts and supplies, including thermostats, insulation material, refrigerants, ductwork, grills, registers, sheet metal, tools, copper tubing, concrete pads, tape, adhesives, and other ancillary supplies.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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