Wealth Enhancement Advisory Services LLC Reduces Holdings in Watsco, Inc. (NYSE:WSO)

Wealth Enhancement Advisory Services LLC reduced its position in shares of Watsco, Inc. (NYSE:WSO) by 22.7% during the third quarter, HoldingsChannel reports. The firm owned 16,195 shares of the construction company’s stock after selling 4,768 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Watsco were worth $7,966,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP acquired a new position in Watsco in the 2nd quarter worth $26,000. EntryPoint Capital LLC increased 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 acquiring an additional 29 shares during the last quarter. ORG Partners LLC acquired a new position in shares of Watsco in the first quarter worth about $31,000. Tortoise Investment Management LLC lifted its stake in shares of Watsco by 76.2% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after acquiring an additional 32 shares in the last quarter. Finally, Salomon & Ludwin LLC boosted its holdings in Watsco by 52.6% in the first quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock valued at $38,000 after purchasing an additional 30 shares during the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Trading Down 1.4 %

Shares of NYSE WSO opened at $473.20 on Wednesday. The stock has a market capitalization of $19.07 billion, a P/E ratio of 36.40 and a beta of 0.88. The stock’s 50 day moving average price is $482.11 and its two-hundred day moving average price is $474.99. The company has a quick ratio of 1.65, a current ratio of 3.36 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 52-week low of $343.04 and a 52-week high of $520.41.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the business earned $4.35 earnings per share. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts anticipate that Watsco, Inc. will post 13.43 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Wednesday, October 16th. Watsco’s dividend payout ratio is presently 83.08%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WSO shares. JPMorgan Chase & Co. upped their target price on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Robert W. Baird reduced their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th.

Watsco Company 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.