Profund Advisors LLC Sells 310 Shares of Watsco, Inc. (NYSE:WSO)

Profund Advisors LLC trimmed its position in Watsco, Inc. (NYSE:WSO) by 25.0% in the second quarter, HoldingsChannel.com reports. The firm owned 928 shares of the construction company’s stock after selling 310 shares during the period. Profund Advisors LLC’s holdings in Watsco were worth $430,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Motley Fool Asset Management LLC boosted its holdings in Watsco by 263.6% during the first quarter. Motley Fool Asset Management LLC now owns 320,008 shares of the construction company’s stock valued at $138,234,000 after purchasing an additional 231,987 shares in the last quarter. Swedbank AB acquired a new position in Watsco during the first quarter worth $90,714,000. Vanguard Group Inc. lifted its holdings in shares of Watsco by 4.5% during the first quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock valued at $1,473,836,000 after acquiring an additional 146,305 shares during the period. Jennison Associates LLC boosted its stake in shares of Watsco by 50.9% in the 1st quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock valued at $80,188,000 after purchasing an additional 62,593 shares in the last quarter. Finally, Kodai Capital Management LP bought a new stake in shares of Watsco in the 4th quarter worth about $17,925,000. 89.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WSO has been the topic of a number of recent analyst reports. Robert W. Baird boosted 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. JPMorgan Chase & Co. boosted their target price on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $469.80.

Watsco Stock Performance

Shares of Watsco stock opened at $498.46 on Thursday. The firm has a 50 day simple moving average of $478.00 and a 200 day simple moving average of $463.60. Watsco, Inc. has a fifty-two week low of $338.58 and a fifty-two week high of $520.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.55. The firm has a market cap of $20.11 billion, a P/E ratio of 38.34 and a beta of 0.88.

Watsco (NYSE:WSO) last posted its quarterly 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). Watsco had a return on equity of 18.55% and a net margin of 7.02%. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the firm earned $4.42 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. Sell-side analysts predict that Watsco, Inc. will post 13.83 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Tuesday, July 16th were issued a $2.70 dividend. The ex-dividend date was Tuesday, July 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.17%. Watsco’s dividend payout ratio is presently 83.08%.

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.