Watsco, Inc. (NYSE:WSO) Stock Position Cut by Diversify Wealth Management LLC

Diversify Wealth Management LLC trimmed its stake in shares of Watsco, Inc. (NYSE:WSO) by 7.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,539 shares of the construction company’s stock after selling 119 shares during the quarter. Diversify Wealth Management LLC’s holdings in Watsco were worth $718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in WSO. Jennison Associates LLC lifted its position in Watsco by 50.9% in the first quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock worth $80,188,000 after purchasing an additional 62,593 shares during the period. Diversify Advisory Services LLC bought a new position in Watsco during the first quarter valued at about $822,000. EverSource Wealth Advisors LLC grew its holdings in Watsco by 256.3% during the first quarter. EverSource Wealth Advisors LLC now owns 3,374 shares of the construction company’s stock worth $1,510,000 after acquiring an additional 2,427 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Watsco in the first quarter worth about $491,000. Finally, Nordea Investment Management AB lifted its holdings in Watsco by 22.3% in the 1st quarter. Nordea Investment Management AB now owns 135,621 shares of the construction company’s stock valued at $59,020,000 after acquiring an additional 24,696 shares during the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Down 0.2 %

Shares of NYSE:WSO opened at $473.36 on Friday. The firm has a 50 day simple moving average of $481.85 and a 200 day simple moving average of $474.98. Watsco, Inc. has a 52 week low of $344.82 and a 52 week high of $520.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.65 and a current ratio of 3.36. The company has a market cap of $19.10 billion, a PE ratio of 36.58 and a beta of 0.88.

Watsco (NYSE:WSO) last released its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the company earned $4.35 EPS. Watsco’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, research analysts expect that Watsco, Inc. will post 13.43 earnings per share for the current year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were paid a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 2.28%. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

Wall Street Analysts Forecast Growth

WSO has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Robert W. Baird decreased their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th.

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.