Inspire Investing LLC Has $2.95 Million Holdings in Watsco, Inc. (NYSE:WSO)

Inspire Investing LLC lessened its holdings in shares of Watsco, Inc. (NYSE:WSO) by 16.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,365 shares of the construction company’s stock after selling 1,244 shares during the quarter. Inspire Investing LLC’s holdings in Watsco were worth $2,949,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. EntryPoint Capital LLC boosted its holdings in shares of Watsco by 100.0% in the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after purchasing an additional 29 shares in the last quarter. First PREMIER Bank acquired a new position in shares of Watsco during the first quarter worth approximately $25,000. ORG Partners LLC purchased a new stake in Watsco in the 1st quarter valued at $31,000. Tortoise Investment Management LLC grew its stake in 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 grew its stake in Watsco by 52.6% in the 1st quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock valued at $38,000 after purchasing an additional 30 shares during the period. Institutional investors own 89.71% of the company’s stock.

Watsco Trading Down 1.1 %

Shares of WSO stock opened at $486.54 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.55. The stock’s 50 day simple moving average is $478.52 and its two-hundred day simple moving average is $459.99. Watsco, Inc. has a 1 year low of $338.58 and a 1 year high of $520.41. The company has a market cap of $19.63 billion, a PE ratio of 37.43 and a beta of 0.88.

Watsco (NYSE:WSO) last announced its earnings results 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 company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.19 billion. Watsco had a net margin of 7.02% and a return on equity of 18.55%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $4.42 EPS. Research analysts predict that Watsco, Inc. will post 13.83 earnings per share for the current year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Tuesday, July 16th were issued 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 2.22%. Watsco’s payout ratio is 83.08%.

Analysts Set New Price Targets

WSO has been the subject of several analyst reports. Robert W. Baird raised their target price on Watsco from $460.00 to $522.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price objective on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Watsco currently has an average rating of “Hold” and an average target price of $447.67.

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.