Watsco, Inc. (NYSE:WSO) Shares Sold by Wealth Alliance

Wealth Alliance lowered its holdings in shares of Watsco, Inc. (NYSE:WSO) by 11.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,999 shares of the construction company’s stock after selling 248 shares during the period. Wealth Alliance’s holdings in Watsco were worth $926,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Shaker Investments LLC OH grew its holdings in shares of Watsco by 0.3% during the first quarter. Shaker Investments LLC OH now owns 7,564 shares of the construction company’s stock worth $3,267,000 after buying an additional 24 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Watsco by 10.2% during the second quarter. Mather Group LLC. now owns 293 shares of the construction company’s stock worth $127,000 after buying an additional 27 shares in the last quarter. EntryPoint Capital LLC grew its holdings in shares of Watsco by 100.0% during 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. Salomon & Ludwin LLC grew its holdings in shares of Watsco by 52.6% during 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. Finally, Trueblood Wealth Management LLC grew its holdings in shares of Watsco by 0.9% during the first quarter. Trueblood Wealth Management LLC now owns 3,603 shares of the construction company’s stock worth $1,556,000 after buying an additional 32 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

WSO opened at $486.54 on Thursday. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 52-week low of $338.58 and a 52-week high of $520.41. The company has a 50 day moving average of $478.52 and a two-hundred day moving average of $459.99. The company has a market cap of $19.63 billion, a P/E ratio of 37.43 and a beta of 0.88.

Watsco (NYSE:WSO) last released 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). Watsco had a return on equity of 18.55% and a net margin of 7.02%. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the firm earned $4.42 earnings per share. Watsco’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, analysts expect that Watsco, Inc. will post 13.83 earnings per share for the current year.

Watsco Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on WSO shares. JPMorgan Chase & Co. boosted their target price on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Robert W. Baird boosted their target price on shares of Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. One equities 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 company. According to data from MarketBeat.com, Watsco currently has a consensus rating of “Hold” and a consensus price target 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.