Vision Capital Management Inc. Trims Stake in Watsco, Inc. (NYSE:WSO)

Vision Capital Management Inc. lessened its holdings in Watsco, Inc. (NYSE:WSO) by 0.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,477 shares of the construction company’s stock after selling 68 shares during the period. Watsco accounts for approximately 1.3% of Vision Capital Management Inc.’s portfolio, making the stock its 21st largest holding. Vision Capital Management Inc.’s holdings in Watsco were worth $9,023,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. First PREMIER Bank purchased a new position in Watsco in the 1st quarter worth approximately $25,000. EntryPoint Capital LLC lifted its holdings in shares of Watsco by 100.0% during the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after acquiring an additional 29 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in Watsco in the fourth quarter worth $28,000. ORG Partners LLC purchased a new stake in Watsco during the first quarter valued at about $31,000. Finally, Tortoise Investment Management LLC lifted its stake 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 purchasing an additional 32 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WSO shares. JPMorgan Chase & Co. increased their price objective on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Robert W. Baird increased their price target on shares of Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $433.71.

Watsco Trading Up 1.5 %

NYSE WSO opened at $455.58 on Tuesday. The firm has a market cap of $18.38 billion, a PE ratio of 35.04 and a beta of 0.88. Watsco, Inc. has a 1-year low of $338.58 and a 1-year high of $520.41. The stock has a 50-day moving average of $479.22 and a 200-day moving average of $456.46. The company has a current ratio of 3.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.01.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $4.49 earnings per share for the quarter, missing the consensus estimate of $4.70 by ($0.21). Watsco had a net margin of 7.02% and a return on equity of 18.55%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the firm posted $4.42 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Watsco, Inc. will post 13.83 EPS for the current year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th were issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Tuesday, July 16th. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

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.