Marks Group Wealth Management Inc Sells 422 Shares of Watsco, Inc. (NYSE:WSO)

Marks Group Wealth Management Inc lessened its stake in Watsco, Inc. (NYSE:WSO) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,795 shares of the construction company’s stock after selling 422 shares during the period. Watsco makes up about 0.9% of Marks Group Wealth Management Inc’s holdings, making the stock its 25th biggest holding. Marks Group Wealth Management Inc’s holdings in Watsco were worth $8,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Benchmark Financial Wealth Advisors LLC purchased a new position in shares of Watsco in the fourth quarter worth $536,000. Louisiana State Employees Retirement System purchased a new position in shares of Watsco during the fourth quarter valued at about $4,070,000. Wellington Management Group LLP lifted its holdings in Watsco by 2.6% in the third quarter. Wellington Management Group LLP now owns 648,662 shares of the construction company’s stock worth $245,013,000 after buying an additional 16,589 shares during the period. Hamlin Capital Management LLC boosted its position in Watsco by 5.7% during the 4th quarter. Hamlin Capital Management LLC now owns 295,833 shares of the construction company’s stock valued at $126,756,000 after acquiring an additional 16,006 shares in the last quarter. Finally, NewEdge Wealth LLC grew its holdings in shares of Watsco by 3.3% during the 4th quarter. NewEdge Wealth LLC now owns 9,700 shares of the construction company’s stock worth $4,156,000 after acquiring an additional 313 shares during the period. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Stock Up 2.5 %

Shares of NYSE:WSO traded up $9.84 on Monday, hitting $406.76. 499,843 shares of the company traded hands, compared to its average volume of 339,475. The stock has a 50 day simple moving average of $408.54 and a 200-day simple moving average of $398.65. The company has a quick ratio of 1.47, a current ratio of 3.36 and a debt-to-equity ratio of 0.01. The company has a market cap of $16.07 billion, a PE ratio of 29.78 and a beta of 0.89. Watsco, Inc. has a 52 week low of $315.17 and a 52 week high of $447.49.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, February 13th. The construction company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.44). Watsco had a net margin of 7.36% and a return on equity of 21.36%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the business posted $2.35 earnings per share. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, research analysts expect that Watsco, Inc. will post 14.19 earnings per share for the current year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be paid a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.66%. This is an increase from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date of this dividend is Friday, April 12th. Watsco’s dividend payout ratio (DPR) is currently 79.06%.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lifted their price target on Watsco from $400.00 to $410.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $398.00.

About Watsco

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.