Caledonia Investments PLC Reduces Stock Holdings in Watsco, Inc. (NYSE:WSO)

Caledonia Investments PLC cut its position in Watsco, Inc. (NYSE:WSO) by 6.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,427 shares of the construction company’s stock after selling 14,000 shares during the quarter. Watsco comprises approximately 10.7% of Caledonia Investments PLC’s holdings, making the stock its 3rd biggest position. Caledonia Investments PLC owned approximately 0.49% of Watsco worth $97,994,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new position in Watsco in the 2nd quarter valued at about $3,537,000. Quarry LP acquired a new stake in shares of Watsco during the 2nd quarter worth approximately $26,000. Creative Planning increased its stake in shares of Watsco by 9.2% in the 2nd quarter. Creative Planning now owns 4,841 shares of the construction company’s stock valued at $2,243,000 after purchasing an additional 409 shares during the last quarter. Magnolia Capital Advisors LLC bought a new position in Watsco in the second quarter valued at about $3,005,000. Finally, Buck Wealth Strategies LLC bought a new stake in shares of Watsco during the 2nd quarter valued at approximately $6,989,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on WSO. JPMorgan Chase & Co. boosted their price objective on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Robert W. Baird increased their price objective 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Watsco currently has an average rating of “Moderate Buy” and a consensus price target of $469.80.

Watsco Price Performance

WSO stock opened at $492.48 on Thursday. Watsco, Inc. has a 1 year low of $338.58 and a 1 year high of $520.41. The stock has a market capitalization of $19.85 billion, a PE ratio of 37.88 and a beta of 0.88. The company’s 50-day moving average is $478.06 and its 200-day moving average is $466.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.55.

Watsco (NYSE:WSO) last released 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 business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the company posted $4.42 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. Equities research analysts expect that Watsco, Inc. will post 13.83 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Wednesday, October 16th. Watsco’s payout ratio is currently 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.