Watsco, Inc. (NYSE:WSO) Shares Sold by Wealth Alliance

Wealth Alliance reduced its position in shares of Watsco, Inc. (NYSE:WSO) by 11.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,999 shares of the construction company’s stock after selling 248 shares during the period. Wealth Alliance’s holdings in Watsco were worth $926,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WSO. First PREMIER Bank acquired a new position in shares of Watsco during the first quarter worth $25,000. EntryPoint Capital LLC lifted its position 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 in the last quarter. ORG Partners LLC acquired a new position in shares of Watsco during the first quarter worth $31,000. Tortoise Investment Management LLC lifted its position in shares of 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 in the last quarter. Finally, Salomon & Ludwin LLC lifted its position in shares of Watsco by 52.6% during the first quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock worth $38,000 after purchasing an additional 30 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WSO. Robert W. Baird boosted their target price on shares of Watsco from $460.00 to $522.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $447.67.

Watsco Stock Down 1.1 %

Shares of NYSE:WSO opened at $486.54 on Thursday. The stock has a market capitalization of $19.63 billion, a price-to-earnings ratio of 37.43 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 company’s fifty day moving average is $478.52 and its two-hundred day moving average is $459.99. 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 (NYSE:WSO) last issued its earnings results on Tuesday, July 30th. The construction company reported $4.49 earnings per share for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.19 billion. Watsco had a return on equity of 18.55% and a net margin of 7.02%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company posted $4.42 earnings per share. Equities analysts anticipate that Watsco, Inc. will post 13.83 EPS for the current year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th were issued a dividend of $2.70 per share. The ex-dividend date was Tuesday, July 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.22%. Watsco’s dividend payout ratio (DPR) is 83.08%.

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.