Quest Partners LLC Sells 190 Shares of Watsco, Inc. (NYSE:WSO)

Quest Partners LLC reduced its holdings in Watsco, Inc. (NYSE:WSO) by 76.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58 shares of the construction company’s stock after selling 190 shares during the quarter. Quest Partners LLC’s holdings in Watsco were worth $27,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in WSO. EntryPoint Capital LLC boosted its holdings in Watsco by 100.0% in the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after acquiring an additional 29 shares in the last quarter. First PREMIER Bank bought a new stake in shares of Watsco during the 1st quarter valued at about $25,000. ORG Partners LLC purchased a new position in shares of Watsco during the first quarter valued at about $31,000. Tortoise Investment Management LLC raised its stake in Watsco by 76.2% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after buying an additional 32 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its stake in 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 buying an additional 30 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Price Performance

WSO stock opened at $489.61 on Friday. Watsco, Inc. has a 52-week low of $338.58 and a 52-week high of $520.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.55 and a current ratio of 3.21. The firm has a market capitalization of $19.75 billion, a price-to-earnings ratio of 37.66 and a beta of 0.88. The firm has a 50 day moving average price of $478.75 and a 200-day moving average price of $460.46.

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

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders 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 annualized dividend and a yield of 2.21%. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Analysts Set New Price Targets

WSO has been the topic of several research reports. 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. lifted their price target on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $447.67.

Watsco Company 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.