Stock Yards Bank & Trust Co. Sells 30 Shares of Watsco, Inc. (NYSE:WSO)

Stock Yards Bank & Trust Co. reduced its position in shares of Watsco, Inc. (NYSE:WSO) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,868 shares of the construction company’s stock after selling 30 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Watsco were worth $919,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of WSO. Quarry LP bought a new stake in Watsco during the 2nd quarter worth about $26,000. Tortoise Investment Management LLC raised its holdings in Watsco by 76.2% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after acquiring an additional 32 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Watsco during the third quarter valued at approximately $43,000. Massmutual Trust Co. FSB ADV grew its stake in Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after purchasing an additional 22 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Watsco during the 3rd quarter worth approximately $48,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WSO shares. Robert W. Baird lowered their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Northcoast Research initiated coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock.

Watsco Price Performance

Shares of Watsco stock opened at $511.19 on Friday. The business has a fifty day simple moving average of $512.25 and a two-hundred day simple moving average of $490.70. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41. The company has a market capitalization of $20.64 billion, a price-to-earnings ratio of 39.50 and a beta of 0.92.

Watsco (NYSE:WSO) last issued 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 company had revenue of $2.16 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company earned $4.35 earnings per share. As a group, equities analysts anticipate that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Wednesday, October 16th. Watsco’s payout ratio is 83.46%.

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.