Intrepid Capital Management Inc. Sells 3,558 Shares of Watsco, Inc. (NYSE:WSO)

Intrepid Capital Management Inc. trimmed its holdings in Watsco, Inc. (NYSE:WSO) by 82.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 736 shares of the construction company’s stock after selling 3,558 shares during the period. Intrepid Capital Management Inc.’s holdings in Watsco were worth $349,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC grew its position in shares of Watsco by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 725,186 shares of the construction company’s stock valued at $343,168,000 after purchasing an additional 20,856 shares during the period. National Bank of Canada FI boosted its holdings in shares of Watsco by 15.9% in the fourth quarter. National Bank of Canada FI now owns 5,499 shares of the construction company’s stock valued at $2,606,000 after buying an additional 754 shares during the period. HighPoint Advisor Group LLC bought a new stake in shares of Watsco during the fourth quarter worth $264,000. Summit Financial LLC increased its holdings in Watsco by 42.3% during the 4th quarter. Summit Financial LLC now owns 710 shares of the construction company’s stock worth $336,000 after purchasing an additional 211 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Watsco by 20.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,801 shares of the construction company’s stock valued at $1,801,000 after purchasing an additional 645 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Up 0.6 %

NYSE:WSO opened at $511.19 on Wednesday. Watsco, Inc. has a twelve month low of $396.82 and a twelve month high of $571.42. The firm has a market capitalization of $20.65 billion, a price-to-earnings ratio of 38.58 and a beta of 0.92. The stock’s 50 day moving average price is $496.49 and its two-hundred day moving average price is $499.26.

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

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be paid a $3.00 dividend. This is an increase from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a yield of 2.35%. Watsco’s dividend payout ratio (DPR) is 81.51%.

Wall Street Analyst Weigh In

WSO has been the subject of several recent research reports. Robert W. Baird upped their price objective on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Raymond James began coverage on shares of Watsco in a research note on Friday, January 17th. They set a “market perform” rating for the company. Finally, Loop Capital boosted their price objective on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Watsco has an average rating of “Hold” and an average price target of $486.25.

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.