AE Wealth Management LLC Sells 7,709 Shares of Watsco, Inc. (NYSE:WSO)

AE Wealth Management LLC lessened its holdings in shares of Watsco, Inc. (NYSE:WSO) by 21.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,443 shares of the construction company’s stock after selling 7,709 shares during the quarter. AE Wealth Management LLC owned 0.07% of Watsco worth $13,176,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Watsco during the fourth quarter worth about $102,958,000. Motley Fool Asset Management LLC increased its holdings in Watsco by 263.6% during the 1st quarter. Motley Fool Asset Management LLC now owns 320,008 shares of the construction company’s stock worth $138,234,000 after purchasing an additional 231,987 shares in the last quarter. Swedbank AB purchased a new stake in shares of Watsco in the first quarter worth approximately $90,714,000. Vanguard Group Inc. raised its stake in shares of Watsco by 4.5% in the first quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock worth $1,473,836,000 after purchasing an additional 146,305 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Watsco by 50.9% in the first quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock valued at $80,188,000 after purchasing an additional 62,593 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WSO shares. JPMorgan Chase & Co. upped their price target on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Robert W. Baird increased 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 given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $447.67.

Watsco Trading Down 2.1 %

NYSE WSO opened at $489.61 on Friday. The business’s fifty day moving average is $478.75 and its 200-day moving average is $460.46. 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 has a market capitalization of $19.75 billion, a price-to-earnings ratio of 37.66 and a beta of 0.88. Watsco, Inc. has a one year low of $338.58 and a one year high of $520.41.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, July 30th. The construction company reported $4.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). The company had revenue of $2.10 billion for 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 business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $4.42 EPS. Equities research analysts predict that Watsco, Inc. will post 13.83 EPS for the current year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th were issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.21%. The ex-dividend date was Tuesday, July 16th. Watsco’s dividend payout ratio (DPR) is 83.08%.

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.