Watsco, Inc. (NYSE:WSO) Stock Holdings Cut by Farther Finance Advisors LLC

Farther Finance Advisors LLC reduced its position in shares of Watsco, Inc. (NYSE:WSO) by 22.6% in the third quarter, HoldingsChannel.com reports. The firm owned 1,632 shares of the construction company’s stock after selling 476 shares during the period. Farther Finance Advisors LLC’s holdings in Watsco were worth $803,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC boosted its stake in shares of 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 acquiring an additional 29 shares in the last quarter. Quarry LP acquired a new stake in shares of Watsco in the second quarter worth $26,000. ORG Partners LLC acquired a new stake in shares of Watsco in the first quarter worth $31,000. Tortoise Investment Management LLC boosted its position 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 buying an additional 32 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Watsco in the first quarter worth $38,000. 89.71% of the stock is owned by institutional investors.

Watsco Price Performance

Shares of NYSE:WSO opened at $478.01 on Tuesday. The company has a current ratio of 3.36, a quick ratio of 1.65 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 1 year low of $362.07 and a 1 year high of $520.41. The business has a fifty day simple moving average of $481.62 and a 200 day simple moving average of $476.35. The firm has a market cap of $19.28 billion, a price-to-earnings ratio of 36.94 and a beta of 0.88.

Watsco (NYSE:WSO) last posted its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company 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. Watsco’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts predict that Watsco, Inc. will post 13.28 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 2.26%. Watsco’s dividend payout ratio (DPR) is currently 83.46%.

Analysts Set New Price Targets

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

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.