Watsco, Inc. (NYSE:WSO) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its position in shares of Watsco, Inc. (NYSE:WSO) by 0.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,917 shares of the construction company’s stock after selling 179 shares during the quarter. Hsbc Holdings PLC’s holdings in Watsco were worth $17,110,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of WSO. EntryPoint Capital LLC boosted its stake in Watsco by 100.0% during the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after purchasing an additional 29 shares during the period. First PREMIER Bank acquired a new position in shares of Watsco during the first quarter worth approximately $25,000. ORG Partners LLC bought a new position in Watsco in the 1st quarter worth approximately $31,000. Tortoise Investment Management LLC increased its position in Watsco by 76.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after acquiring an additional 32 shares during the period. Finally, Salomon & Ludwin LLC raised its stake in Watsco by 52.6% during the 1st quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock valued at $38,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Trading Down 2.1 %

Shares of WSO stock opened at $489.61 on Monday. The stock has a 50-day simple moving average of $478.69 and a 200 day simple moving average of $462.05. The stock has a market capitalization of $19.73 billion, a P/E ratio of 37.66 and a beta of 0.88. Watsco, Inc. has a fifty-two week low of $338.58 and a fifty-two week high of $520.41. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01.

Watsco (NYSE:WSO) last announced its earnings results on Tuesday, July 30th. The construction company reported $4.49 EPS 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 for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the company earned $4.42 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, sell-side analysts expect that Watsco, Inc. will post 13.83 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Tuesday, July 16th. Watsco’s payout ratio is 83.08%.

Analysts Set New Price Targets

WSO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Robert W. Baird boosted their price target 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Watsco presently has an average rating of “Moderate Buy” and an average target price of $469.80.

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.