Alerus Financial NA Sells 161 Shares of Watsco, Inc. (NYSE:WSO)

Alerus Financial NA reduced its holdings in shares of Watsco, Inc. (NYSE:WSO) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,677 shares of the construction company’s stock after selling 161 shares during the period. Alerus Financial NA’s holdings in Watsco were worth $5,060,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

WSO has been the subject of several recent analyst reports. Robert W. Baird raised their price objective 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. Loop Capital boosted their price target on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a report on Thursday, February 27th. Finally, Raymond James began coverage on Watsco in a research report on Friday, January 17th. They set a “market perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $486.25.

Watsco Price Performance

Watsco stock opened at $515.34 on Friday. The stock has a market capitalization of $20.82 billion, a PE ratio of 38.89 and a beta of 0.92. Watsco, Inc. has a 12-month low of $396.82 and a 12-month high of $571.42. The firm has a 50 day simple moving average of $496.05 and a 200-day simple moving average of $497.87.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 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 the consensus estimate of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. On average, analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were issued a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.10%. Watsco’s payout ratio is presently 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.