Federated Hermes Inc. Has $1.47 Million Stake in Watsco, Inc. (NYSE:WSO)

Federated Hermes Inc. reduced its stake in shares of Watsco, Inc. (NYSE:WSO) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,102 shares of the construction company’s stock after selling 153 shares during the quarter. Federated Hermes Inc.’s holdings in Watsco were worth $1,470,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WSO. Rialto Wealth Management LLC acquired a new stake in shares of Watsco during the 4th quarter worth about $31,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Watsco during the fourth quarter worth approximately $36,000. Atala Financial Inc bought a new position in shares of Watsco in the fourth quarter valued at approximately $49,000. Golden State Wealth Management LLC bought a new position in shares of Watsco in the fourth quarter valued at approximately $50,000. Finally, Tortoise Investment Management LLC boosted its holdings in shares of Watsco by 76.2% in the 4th quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company’s stock worth $70,000 after acquiring an additional 64 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Watsco Trading Up 1.4 %

Shares of NYSE:WSO opened at $516.23 on Tuesday. The stock has a market capitalization of $20.86 billion, a P/E ratio of 38.96 and a beta of 1.00. Watsco, Inc. has a 1-year low of $396.82 and a 1-year high of $571.42. The business has a 50-day moving average price of $497.82 and a two-hundred day moving average price of $499.05.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. As a group, equities analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This is a boost from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.32%. Watsco’s payout ratio is 90.57%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Loop Capital raised their price target on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. Raymond James initiated coverage on Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Morgan Stanley began coverage on shares of Watsco in a report on Monday. They set an “equal weight” rating and a $515.00 price objective on the stock. Finally, Robert W. Baird boosted their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Watsco currently has a consensus rating of “Hold” and a consensus target price of $492.00.

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.