Bahl & Gaynor Inc. Sells 9,242 Shares of Watsco, Inc. (NYSE:WSO)

Bahl & Gaynor Inc. lessened its position in Watsco, Inc. (NYSE:WSO) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 248,469 shares of the construction company’s stock after selling 9,242 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.63% of Watsco worth $106,462,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of WSO. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Watsco by 0.5% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,655,946 shares of the construction company’s stock worth $625,484,000 after purchasing an additional 7,723 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Watsco by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,310,201 shares of the construction company’s stock valued at $476,973,000 after purchasing an additional 9,201 shares during the period. Blair William & Co. IL boosted its stake in Watsco by 0.7% in the 3rd quarter. Blair William & Co. IL now owns 770,476 shares of the construction company’s stock valued at $291,024,000 after purchasing an additional 4,997 shares during the period. Wellington Management Group LLP boosted its stake in Watsco by 2.6% in the 3rd quarter. Wellington Management Group LLP now owns 648,662 shares of the construction company’s stock valued at $245,013,000 after purchasing an additional 16,589 shares during the period. Finally, Markel Group Inc. boosted its stake in Watsco by 1.2% in the 3rd quarter. Markel Group Inc. now owns 545,750 shares of the construction company’s stock valued at $206,141,000 after purchasing an additional 6,500 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

NYSE:WSO opened at $443.21 on Friday. The stock has a fifty day moving average price of $412.36 and a 200-day moving average price of $399.76. The company has a market cap of $17.51 billion, a price-to-earnings ratio of 34.09 and a beta of 0.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 2.92. Watsco, Inc. has a fifty-two week low of $315.17 and a fifty-two week high of $451.29.

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

Watsco Increases Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on WSO shares. Stephens restated an “overweight” rating and issued a $500.00 price target on shares of Watsco in a research note on Thursday. Robert W. Baird boosted their price target on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.