Freedom Day Solutions LLC Has $3.69 Million Holdings in Watsco, Inc. (NYSE:WSO)

Freedom Day Solutions LLC decreased its position in shares of Watsco, Inc. (NYSE:WSO) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,492 shares of the construction company’s stock after selling 80 shares during the quarter. Watsco makes up approximately 1.1% of Freedom Day Solutions LLC’s portfolio, making the stock its 17th biggest position. Freedom Day Solutions LLC’s holdings in Watsco were worth $3,685,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WSO. EntryPoint Capital LLC lifted its holdings in shares of Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after purchasing an additional 29 shares during the period. Quarry LP acquired a new position in Watsco during the 2nd quarter worth about $26,000. ORG Partners LLC bought a new stake in shares of Watsco in the 1st quarter valued at about $31,000. Tortoise Investment Management LLC grew its position in shares of Watsco by 76.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after buying an additional 32 shares during the last quarter. Finally, Salomon & Ludwin LLC increased its stake in shares of Watsco by 52.6% in the first quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock valued at $38,000 after buying an additional 30 shares during the period. Institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on WSO shares. Robert W. Baird reduced their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st.

Watsco Stock Performance

NYSE:WSO opened at $478.16 on Friday. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a twelve month low of $338.58 and a twelve month high of $520.41. The company has a fifty day moving average of $481.96 and a 200-day moving average of $473.32. The firm has a market capitalization of $19.27 billion, a P/E ratio of 36.78 and a beta of 0.88.

Watsco (NYSE:WSO) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing the consensus estimate of $4.73 by ($0.51). The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 18.55% and a net margin of 7.02%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.35 EPS. As a group, sell-side analysts anticipate that Watsco, Inc. will post 13.78 EPS for the current year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Wednesday, October 16th. Watsco’s dividend payout ratio is currently 83.08%.

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.