Watsco, Inc. (NYSE:WSO) Shares Sold by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC decreased its stake in shares of Watsco, Inc. (NYSE:WSO) by 10.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 423 shares of the construction company’s stock after selling 47 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Watsco were worth $208,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of WSO. State of Alaska Department of Revenue grew its stake in shares of Watsco by 16.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 4,037 shares of the construction company’s stock valued at $1,985,000 after buying an additional 560 shares during the period. Hamlin Capital Management LLC boosted its holdings in Watsco by 7.4% in the third quarter. Hamlin Capital Management LLC now owns 314,543 shares of the construction company’s stock valued at $154,717,000 after acquiring an additional 21,649 shares during the last quarter. Mattern Capital Management LLC grew its position in Watsco by 10.5% during the third quarter. Mattern Capital Management LLC now owns 1,109 shares of the construction company’s stock valued at $545,000 after acquiring an additional 105 shares during the period. MCF Advisors LLC increased its stake in Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after acquiring an additional 25 shares during the last quarter. Finally, Arkadios Wealth Advisors raised its holdings in shares of Watsco by 19.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 644 shares of the construction company’s stock worth $317,000 after purchasing an additional 105 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

Shares of NYSE:WSO opened at $479.80 on Tuesday. The business’s 50-day simple moving average is $482.08 and its 200 day simple moving average is $474.60. The company has a market cap of $19.34 billion, a P/E ratio of 36.91 and a beta of 0.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.65 and a current ratio of 3.36. Watsco, Inc. has a one year low of $343.04 and a one year high of $520.41.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.35 EPS. On average, sell-side analysts forecast that Watsco, Inc. will post 13.43 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be issued a $2.70 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.25%. Watsco’s dividend payout ratio is currently 83.08%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WSO. JPMorgan Chase & Co. boosted their target price 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 dropped their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th.

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.