Taylor Frigon Capital Management LLC Has $2.07 Million Stock Position in Watsco, Inc. (NYSE:WSO)

Taylor Frigon Capital Management LLC lessened its stake in Watsco, Inc. (NYSE:WSO) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,214 shares of the construction company’s stock after selling 156 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in Watsco were worth $2,073,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EntryPoint Capital LLC grew its position in shares of Watsco by 100.0% in the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after acquiring an additional 29 shares during the period. Quarry LP bought a new position in Watsco during the second quarter worth about $26,000. ORG Partners LLC acquired a new position in Watsco during the first quarter worth approximately $31,000. Tortoise Investment Management LLC raised its stake in Watsco by 76.2% in the second 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 period. Finally, Salomon & Ludwin LLC lifted its position 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 last quarter. 89.71% of the stock is owned by institutional investors.

Watsco Stock Performance

Shares of NYSE WSO traded up $7.00 during trading hours on Thursday, reaching $473.42. 73,818 shares of the stock were exchanged, compared to its average volume of 290,543. The firm has a market capitalization of $19.08 billion, a price-to-earnings ratio of 36.46 and a beta of 0.88. The stock’s fifty day simple moving average is $481.95 and its 200 day simple moving average is $473.28. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.55 and a current ratio of 3.21. Watsco, Inc. has a 52 week low of $338.58 and a 52 week high of $520.41.

Watsco (NYSE:WSO) last posted 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 return on equity of 18.55% and a net margin of 7.02%. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the business earned $4.42 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Sell-side analysts predict that Watsco, Inc. will post 13.78 EPS for the current year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be paid a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.28%. The ex-dividend date is Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is 83.08%.

Analysts Set New Price Targets

A number of research firms recently weighed in on WSO. 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. JPMorgan Chase & Co. upped their price objective on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st.

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.