Allworth Financial LP Sells 43 Shares of Watsco, Inc. (NYSE:WSO)

Allworth Financial LP cut its position in Watsco, Inc. (NYSE:WSO) by 14.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 262 shares of the construction company’s stock after selling 43 shares during the quarter. Allworth Financial LP’s holdings in Watsco were worth $129,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP bought a new position in Watsco during the second quarter worth about $26,000. EntryPoint Capital LLC lifted its holdings in Watsco by 100.0% during the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after buying an additional 29 shares during the period. ORG Partners LLC bought a new stake in Watsco in the first quarter valued at approximately $31,000. Tortoise Investment Management LLC boosted its stake in shares of 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 purchasing an additional 32 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Watsco during the 1st quarter worth about $38,000. Institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Watsco Price Performance

WSO stock opened at $473.36 on Friday. The stock has a market cap of $19.08 billion, a PE ratio of 36.41 and a beta of 0.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.36 and a quick ratio of 1.65. Watsco, Inc. has a one year low of $344.82 and a one year high of $520.41. The firm has a 50 day simple moving average of $481.85 and a two-hundred day simple moving average of $474.98.

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

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.28%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio is currently 83.08%.

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.