Watsco, Inc. (NYSE:WSO) Stock Holdings Decreased by Parallel Advisors LLC

Parallel Advisors LLC lessened its position in Watsco, Inc. (NYSE:WSO) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,416 shares of the construction company’s stock after selling 26 shares during the quarter. Parallel Advisors LLC’s holdings in Watsco were worth $656,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC boosted its position in shares of Watsco by 100.0% in the first 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. First PREMIER Bank purchased a new stake in Watsco in the 1st quarter worth about $25,000. ORG Partners LLC acquired a new stake in Watsco during the 1st quarter worth about $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 during the period. Finally, Salomon & Ludwin LLC lifted its position in shares of Watsco by 52.6% in the first quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock worth $38,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Robert W. Baird lifted their price objective on Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $433.71.

Watsco Stock Performance

Shares of NYSE:WSO opened at $487.59 on Tuesday. The business has a fifty day moving average of $478.22 and a 200-day moving average of $459.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.55 and a current ratio of 3.21. Watsco, Inc. has a twelve month low of $338.58 and a twelve month high of $520.41. The firm has a market cap of $19.65 billion, a PE ratio of 37.51 and a beta of 0.88.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, July 30th. The construction company reported $4.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.70 by ($0.21). The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.19 billion. Watsco had a return on equity of 18.55% and a net margin of 7.02%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $4.42 EPS. On average, equities research analysts predict that Watsco, Inc. will post 13.83 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Tuesday, July 16th were given a $2.70 dividend. The ex-dividend date was Tuesday, July 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.21%. Watsco’s payout ratio is 83.08%.

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.