Watsco, Inc. (NYSE:WSO) Shares Sold by US Bancorp DE

US Bancorp DE decreased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,984 shares of the construction company’s stock after selling 64 shares during the period. US Bancorp DE’s holdings in Watsco were worth $5,897,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quarry LP acquired a new position in Watsco during the second quarter worth $26,000. 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 worth $25,000 after purchasing an additional 29 shares in the last quarter. ORG Partners LLC acquired a new position in shares of Watsco during the 1st quarter worth $31,000. Tortoise Investment Management LLC increased its holdings 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 in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Watsco in the 1st quarter valued at about $38,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WSO. Robert W. Baird lowered their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st.

Watsco Price Performance

Watsco stock opened at $474.00 on Monday. The company has a quick ratio of 1.65, a current ratio of 3.36 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $481.62 and its 200 day simple moving average is $475.84. Watsco, Inc. has a 52 week low of $359.59 and a 52 week high of $520.41. The firm has a market capitalization of $19.12 billion, a PE ratio of 36.63 and a beta of 0.88.

Watsco (NYSE:WSO) last announced its quarterly earnings results 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 net margin of 6.99% and a return on equity of 17.77%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the company earned $4.35 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities research analysts predict that Watsco, Inc. will post 13.28 EPS for the current fiscal year.

Watsco Announces Dividend

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. This represents a $10.80 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

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.