Watsco, Inc. (NYSE:WSO) Position Trimmed by Middleton & Co. Inc. MA

Middleton & Co. Inc. MA trimmed its stake in Watsco, Inc. (NYSE:WSO) by 7.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,907 shares of the construction company’s stock after selling 730 shares during the quarter. Middleton & Co. Inc. MA’s holdings in Watsco were worth $4,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in WSO. Jennison Associates LLC grew its stake in shares of Watsco by 50.9% in the 1st quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock valued at $80,188,000 after buying an additional 62,593 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Watsco by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 44,737 shares of the construction company’s stock worth $19,168,000 after purchasing an additional 1,650 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Watsco by 12.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 255,062 shares of the construction company’s stock valued at $109,287,000 after buying an additional 28,047 shares during the last quarter. American National Bank lifted its holdings in shares of Watsco by 878.1% during the first quarter. American National Bank now owns 2,416 shares of the construction company’s stock worth $1,044,000 after buying an additional 2,169 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Watsco by 2.0% in the fourth quarter. First Trust Advisors LP now owns 310,787 shares of the construction company’s stock valued at $133,163,000 after acquiring an additional 5,949 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Stock Down 1.1 %

Shares of NYSE:WSO opened at $486.54 on Thursday. Watsco, Inc. has a 52 week low of $338.58 and a 52 week high of $520.41. The company has a market capitalization of $19.63 billion, a PE ratio of 37.43 and a beta of 0.88. The company’s fifty day moving average is $478.52 and its 200-day moving average is $459.99. 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 (NYSE:WSO) last announced its earnings results on Tuesday, July 30th. The construction company reported $4.49 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $2.19 billion. During the same period in the previous year, the firm earned $4.42 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. Equities research analysts predict that Watsco, Inc. will post 13.83 earnings per share for the current fiscal year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Tuesday, July 16th. Watsco’s dividend payout ratio is presently 83.08%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on WSO shares. Robert W. Baird upped their target price on shares of Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.