Thrivent Financial for Lutherans Cuts Stock Holdings in Watsco, Inc. (NYSE:WSO)

Thrivent Financial for Lutherans cut its position in shares of Watsco, Inc. (NYSE:WSO) by 14.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,153 shares of the construction company’s stock after selling 5,741 shares during the period. Thrivent Financial for Lutherans owned 0.08% of Watsco worth $16,184,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. My Legacy Advisors LLC grew its position in shares of Watsco by 3.2% during the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock valued at $329,000 after acquiring an additional 21 shares during the period. Avidian Wealth Enterprises LLC grew its holdings in Watsco by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock valued at $567,000 after purchasing an additional 21 shares during the period. Centennial Wealth Advisory LLC increased its position in shares of Watsco by 3.0% in the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock valued at $358,000 after buying an additional 22 shares in the last quarter. M&T Bank Corp raised its stake in shares of Watsco by 1.4% during the 4th quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock worth $799,000 after buying an additional 23 shares during the period. Finally, Principal Securities Inc. lifted its position in shares of Watsco by 6.9% during the 4th quarter. Principal Securities Inc. now owns 373 shares of the construction company’s stock valued at $177,000 after buying an additional 24 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on WSO. Northcoast Research started coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Raymond James started coverage on shares of Watsco in a research note on Friday, January 17th. They set a “market perform” rating for the company. Loop Capital upped their price target on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Finally, Robert W. Baird lifted their price objective on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Watsco currently has an average rating of “Hold” and a consensus target price of $486.25.

Watsco Stock Down 1.3 %

Shares of NYSE WSO opened at $495.89 on Friday. The stock has a market capitalization of $20.04 billion, a price-to-earnings ratio of 37.43 and a beta of 0.92. Watsco, Inc. has a 52 week low of $396.82 and a 52 week high of $571.42. The firm has a 50-day simple moving average of $493.43 and a 200-day simple moving average of $496.13.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. As a group, equities research analysts expect that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

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 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is presently 81.51%.

Watsco Company 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.