Thoroughbred Financial Services LLC Sells 146 Shares of Watsco, Inc. (NYSE:WSO)

Thoroughbred Financial Services LLC lowered its stake in Watsco, Inc. (NYSE:WSO) by 10.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,200 shares of the construction company’s stock after selling 146 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Watsco were worth $569,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Rialto Wealth Management LLC purchased a new position in shares of Watsco in the fourth quarter worth $31,000. Wingate Wealth Advisors Inc. bought a new stake in Watsco in the 4th quarter worth approximately $36,000. Quarry LP raised its stake in 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 buying an additional 33 shares during the last quarter. Atala Financial Inc bought a new position in shares of Watsco during the 4th quarter valued at $49,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Watsco in the 4th quarter worth $50,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Performance

Shares of NYSE:WSO opened at $477.78 on Friday. The firm has a market cap of $19.30 billion, a PE ratio of 36.06 and a beta of 1.00. The firm’s 50 day simple moving average is $496.34 and its 200-day simple moving average is $499.34. Watsco, Inc. has a one year low of $396.82 and a one year high of $571.42.

Watsco (NYSE:WSO) last released its quarterly 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. The company had revenue of $1.75 billion during 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%. Equities research analysts predict that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be given a $3.00 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.51%. This is an increase from Watsco’s previous quarterly dividend of $2.70. Watsco’s dividend payout ratio is 81.51%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Raymond James assumed 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 upped their price target on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Loop Capital raised their price objective on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $486.25.

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.