Headlands Technologies LLC Cuts Holdings in Watsco, Inc. (NYSE:WSO)

Headlands Technologies LLC decreased its position in shares of Watsco, Inc. (NYSE:WSO) by 13.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,242 shares of the construction company’s stock after selling 197 shares during the period. Headlands Technologies LLC’s holdings in Watsco were worth $532,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Golden State Equity Partners purchased a new position in shares of Watsco during the fourth quarter valued at approximately $286,000. Markel Group Inc. boosted its position in shares of Watsco by 2.0% during the fourth quarter. Markel Group Inc. now owns 556,750 shares of the construction company’s stock valued at $238,551,000 after buying an additional 11,000 shares during the period. Yousif Capital Management LLC boosted its position in shares of Watsco by 1.6% during the fourth quarter. Yousif Capital Management LLC now owns 16,252 shares of the construction company’s stock valued at $6,963,000 after buying an additional 253 shares during the period. GAMMA Investing LLC bought a new stake in shares of Watsco during the fourth quarter valued at approximately $96,000. Finally, Parkside Financial Bank & Trust raised its stake in shares of Watsco by 9.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 445 shares of the construction company’s stock valued at $191,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Trading Down 0.2 %

Shares of WSO stock traded down $0.79 on Friday, hitting $443.21. 277,114 shares of the stock traded hands, compared to its average volume of 313,812. The firm’s 50-day moving average price is $412.36 and its two-hundred day moving average price is $399.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 2.92. The stock has a market capitalization of $17.51 billion, a PE ratio of 34.09 and a beta of 0.90. Watsco, Inc. has a twelve month low of $315.17 and a twelve month high of $451.29.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.09). The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Watsco had a net margin of 7.03% and a return on equity of 19.26%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $2.83 earnings per share. As a group, analysts anticipate that Watsco, Inc. will post 14.19 EPS for the current year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a dividend of $2.70 per share. The ex-dividend date of this dividend is Friday, April 12th. This is an increase from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.44%. Watsco’s payout ratio is currently 83.08%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Robert W. Baird lifted their price target on shares of Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday. Stephens reaffirmed an “overweight” rating and set a $500.00 price target on shares of Watsco in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Watsco currently has a consensus rating of “Hold” and a consensus target price of $404.25.

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.