FineMark National Bank & Trust Sells 381 Shares of Watsco, Inc. (NYSE:WSO)

FineMark National Bank & Trust lowered its position in shares of Watsco, Inc. (NYSE:WSO) by 2.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,355 shares of the construction company’s stock after selling 381 shares during the period. FineMark National Bank & Trust’s holdings in Watsco were worth $7,750,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Rialto Wealth Management LLC bought a new stake in shares of Watsco during the fourth quarter worth about $31,000. Wingate Wealth Advisors Inc. acquired a new stake in Watsco during the 4th quarter worth approximately $36,000. Quarry LP grew its holdings in Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after acquiring an additional 33 shares during the last quarter. Brooklyn Investment Group acquired a new position in Watsco in the 3rd quarter valued at approximately $48,000. Finally, Atala Financial Inc bought a new position in shares of Watsco during the fourth quarter valued at $49,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WSO. Raymond James assumed coverage on shares of Watsco in a research note on Friday, January 17th. They issued a “market perform” rating on the stock. Robert W. Baird increased their price target on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Loop Capital upped their target price on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $486.25.

Watsco Price Performance

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

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. The firm had revenue of $1.75 billion for 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%. Analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.11%. The ex-dividend date 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.