Watsco, Inc. (NYSE:WSO) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its stake in shares of Watsco, Inc. (NYSE:WSO) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,409 shares of the construction company’s stock after selling 1,729 shares during the period. Corebridge Financial Inc.’s holdings in Watsco were worth $18,676,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WSO. Rialto Wealth Management LLC bought a new position in shares of Watsco in the fourth quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. bought a new position in Watsco during the 4th quarter valued at $36,000. Quarry LP increased its position in shares of Watsco by 57.9% during 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 period. Brooklyn Investment Group acquired a new position in shares of Watsco during the 3rd quarter valued at $48,000. Finally, Atala Financial Inc bought a new stake in shares of Watsco in the 4th quarter worth $49,000. 89.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Watsco Trading Up 3.1 %

Shares of WSO opened at $512.47 on Tuesday. The business’s 50-day moving average price is $494.16 and its 200 day moving average price is $497.15. The stock has a market capitalization of $20.71 billion, a P/E ratio of 38.68 and a beta of 0.92. Watsco, Inc. has a 1-year low of $396.82 and a 1-year high of $571.42.

Watsco (NYSE:WSO) last released its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. On average, research analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is currently 81.51%.

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.