Watsco, Inc. (NYSE:WSO) Stake Cut by OLD National Bancorp IN

OLD National Bancorp IN lessened its holdings in shares of Watsco, Inc. (NYSE:WSO) by 13.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,521 shares of the construction company’s stock after selling 876 shares during the quarter. OLD National Bancorp IN’s holdings in Watsco were worth $2,716,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its position in Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after purchasing an additional 22 shares during the period. CWM LLC raised its stake in shares of Watsco by 2.6% in the 3rd quarter. CWM LLC now owns 952 shares of the construction company’s stock valued at $468,000 after buying an additional 24 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Watsco by 10.2% during the 2nd quarter. Mather Group LLC. now owns 293 shares of the construction company’s stock worth $127,000 after acquiring an additional 27 shares during the period. EntryPoint Capital LLC boosted its position in shares of 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 acquiring an additional 29 shares in the last quarter. Finally, Salomon & Ludwin LLC boosted its stake in Watsco by 52.6% in the 1st quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock valued at $38,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Down 0.4 %

Watsco stock opened at $502.73 on Monday. The company has a 50 day moving average of $481.44 and a 200-day moving average of $472.34. The stock has a market capitalization of $20.26 billion, a PE ratio of 38.67 and a beta of 0.88. 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, Inc. has a twelve month low of $338.58 and a twelve month high of $520.41.

Watsco (NYSE:WSO) last released its earnings results 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). The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.19 billion. Watsco had a net margin of 7.02% and a return on equity of 18.55%. Watsco’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $4.42 earnings per share. On average, equities research analysts anticipate that Watsco, Inc. will post 13.78 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. Shareholders of record on Wednesday, October 16th will be issued a $2.70 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 2.15%. Watsco’s dividend payout ratio is currently 83.08%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WSO. Robert W. Baird lifted their target price on shares of Watsco from $522.00 to $550.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research 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.