Watsco, Inc. $WSO Shares Sold by Hamlin Capital Management LLC

Hamlin Capital Management LLC decreased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 16.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 340,322 shares of the construction company’s stock after selling 65,158 shares during the quarter. Watsco makes up approximately 2.7% of Hamlin Capital Management LLC’s portfolio, making the stock its 23rd biggest position. Hamlin Capital Management LLC’s holdings in Watsco were worth $114,671,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hilltop National Bank increased its stake in Watsco by 7.1% in the third quarter. Hilltop National Bank now owns 454 shares of the construction company’s stock valued at $184,000 after purchasing an additional 30 shares during the last quarter. Apollon Wealth Management LLC lifted its position in shares of Watsco by 6.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 601 shares of the construction company’s stock worth $243,000 after buying an additional 34 shares during the last quarter. Applied Capital LLC FL boosted its holdings in shares of Watsco by 0.5% in the 3rd quarter. Applied Capital LLC FL now owns 6,993 shares of the construction company’s stock valued at $2,827,000 after buying an additional 36 shares in the last quarter. Profund Advisors LLC boosted its holdings in shares of Watsco by 4.7% in the 3rd quarter. Profund Advisors LLC now owns 805 shares of the construction company’s stock valued at $325,000 after buying an additional 36 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its position in shares of Watsco by 4.2% in the 3rd quarter. Arkadios Wealth Advisors now owns 948 shares of the construction company’s stock valued at $383,000 after buying an additional 38 shares during the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Zacks Research upgraded shares of Watsco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. Wolfe Research set a $349.00 price objective on Watsco in a report on Tuesday, December 9th. Morgan Stanley cut their target price on Watsco from $460.00 to $370.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 14th. JPMorgan Chase & Co. boosted their target price on Watsco from $370.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, February 19th. Finally, UBS Group initiated coverage on Watsco in a research report on Monday, January 5th. They issued a “neutral” rating and a $370.00 target price for the company. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $409.00.

Watsco Price Performance

Shares of Watsco stock opened at $373.75 on Friday. The firm’s fifty day simple moving average is $395.63 and its 200-day simple moving average is $375.62. Watsco, Inc. has a 12 month low of $323.05 and a 12 month high of $521.70. The stock has a market capitalization of $15.16 billion, a price-to-earnings ratio of 30.86 and a beta of 1.03.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Tuesday, February 17th. The construction company reported $1.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.26). Watsco had a return on equity of 15.49% and a net margin of 6.87%.The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the company earned $2.37 EPS. The firm’s revenue for the quarter was down 9.9% on a year-over-year basis. Analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 16th were paid a dividend of $3.00 per share. The ex-dividend date was Friday, January 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.2%. Watsco’s dividend payout ratio is 99.09%.

About Watsco

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.