NBC Securities Inc. Sells 79 Shares of Watsco, Inc. (NYSE:WSO)

NBC Securities Inc. lowered its stake in Watsco, Inc. (NYSE:WSO) by 5.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,298 shares of the construction company’s stock after selling 79 shares during the quarter. NBC Securities Inc.’s holdings in Watsco were worth $638,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Planning raised its holdings in shares of Watsco by 7.7% in the 3rd quarter. Creative Planning now owns 5,212 shares of the construction company’s stock worth $2,564,000 after acquiring an additional 371 shares during the last quarter. Webster Bank N. A. grew its stake in Watsco by 5.0% in the 3rd quarter. Webster Bank N. A. now owns 1,568 shares of the construction company’s stock valued at $771,000 after buying an additional 75 shares in the last quarter. Koshinski Asset Management Inc. bought a new stake in Watsco during the 3rd quarter valued at $202,000. CHICAGO TRUST Co NA lifted its position in shares of Watsco by 20.8% during the third quarter. CHICAGO TRUST Co NA now owns 3,930 shares of the construction company’s stock worth $1,933,000 after acquiring an additional 678 shares in the last quarter. Finally, Carnegie Investment Counsel grew its position in shares of Watsco by 1.1% in the third quarter. Carnegie Investment Counsel now owns 34,168 shares of the construction company’s stock valued at $16,809,000 after purchasing an additional 361 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

NYSE:WSO opened at $504.72 on Friday. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. The firm’s fifty day simple moving average is $480.82 and its 200 day simple moving average is $471.55. The stock has a market cap of $20.34 billion, a P/E ratio of 38.82 and a beta of 0.88. Watsco, Inc. has a twelve month low of $338.58 and a twelve month high of $520.41.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $4.49 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter last year, the company posted $4.42 EPS. Watsco’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, research analysts predict that Watsco, Inc. will post 13.83 EPS for the current year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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 dividend on an annualized basis and a yield of 2.14%. Watsco’s payout ratio is currently 83.08%.

Analyst Ratings Changes

A number of research firms have weighed in on WSO. Robert W. Baird lifted their target price on Watsco from $522.00 to $550.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. upped 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.

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.