Signaturefd LLC Sells 36 Shares of Watsco, Inc. (NYSE:WSO)

Signaturefd LLC trimmed its position in shares of Watsco, Inc. (NYSE:WSO) by 5.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 619 shares of the construction company’s stock after selling 36 shares during the period. Signaturefd LLC’s holdings in Watsco were worth $305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. EntryPoint Capital LLC raised 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 in the last quarter. Quarry LP purchased a new stake in Watsco during the second quarter valued at about $26,000. ORG Partners LLC purchased a new stake in Watsco during the first quarter valued at about $31,000. Tortoise Investment Management LLC raised its position in Watsco by 76.2% during the second 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, Salomon & Ludwin LLC raised its position in Watsco by 52.6% during the first quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock valued at $38,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Down 0.5 %

Shares of NYSE:WSO opened at $475.90 on Friday. The stock’s 50-day moving average price is $482.01 and its 200-day moving average price is $473.79. Watsco, Inc. has a 12-month low of $340.52 and a 12-month high of $520.41. The stock has a market capitalization of $19.18 billion, a P/E ratio of 36.61 and a beta of 0.88. The company has a current ratio of 3.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.01.

Watsco (NYSE:WSO) last posted its 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). The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a return on equity of 18.55% and a net margin of 7.02%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $4.35 earnings per share. On average, equities analysts anticipate that Watsco, Inc. will post 13.78 earnings per share for the current year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be paid a $2.70 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $10.80 annualized dividend and a dividend yield of 2.27%. Watsco’s payout ratio is presently 83.08%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Robert W. Baird lowered their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st.

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.