Nisa Investment Advisors LLC Has $8.47 Million Holdings in Watsco, Inc. (NYSE:WSO)

Nisa Investment Advisors LLC lowered its position in Watsco, Inc. (NYSE:WSO) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,880 shares of the construction company’s stock after selling 440 shares during the period. Nisa Investment Advisors LLC’s holdings in Watsco were worth $8,473,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC increased its holdings in Watsco by 10.6% during the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock valued at $1,782,651,000 after purchasing an additional 346,470 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Watsco by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock valued at $616,357,000 after purchasing an additional 62,041 shares during the period. State Street Corp boosted its stake in shares of Watsco by 5.9% in the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock valued at $577,350,000 after purchasing an additional 65,846 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Watsco by 9.9% during the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock valued at $345,783,000 after acquiring an additional 63,254 shares during the last quarter. Finally, Markel Group Inc. boosted its holdings in Watsco by 2.0% during the third quarter. Markel Group Inc. now owns 582,500 shares of the construction company’s stock worth $286,520,000 after buying an additional 11,250 shares during the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 12.86% of the company’s stock.

Watsco Trading Down 1.5 %

WSO stock opened at $497.97 on Friday. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41. The business’s 50 day simple moving average is $505.82 and its 200 day simple moving average is $492.91. The firm has a market capitalization of $20.11 billion, a PE ratio of 38.48 and a beta of 0.95.

Watsco (NYSE:WSO) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. Watsco’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.35 earnings per share. As a group, sell-side analysts predict that Watsco, Inc. will post 13.03 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $2.70 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.17%. Watsco’s dividend payout ratio (DPR) is currently 83.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on WSO shares. Raymond James initiated coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating on the stock. Northcoast Research started coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Finally, Robert W. Baird reduced their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $488.33.

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.