Strengthening Families & Communities LLC Reduces Stock Position in Watsco, Inc. (NYSE:WSO)

Strengthening Families & Communities LLC lessened its holdings in shares of Watsco, Inc. (NYSE:WSO) by 95.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 331 shares of the construction company’s stock after selling 6,988 shares during the period. Strengthening Families & Communities LLC’s holdings in Watsco were worth $163,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in 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 buying an additional 146,305 shares in the last quarter. Blair William & Co. IL raised its position in shares of Watsco by 1.2% in the 2nd quarter. Blair William & Co. IL now owns 801,152 shares of the construction company’s stock worth $371,126,000 after acquiring an additional 9,141 shares in the last quarter. Markel Group Inc. lifted its stake in shares of Watsco by 2.0% in the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company’s stock valued at $286,520,000 after purchasing an additional 11,250 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Watsco by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 393,032 shares of the construction company’s stock valued at $182,068,000 after purchasing an additional 6,320 shares in the last quarter. Finally, Hamlin Capital Management LLC grew its stake in Watsco by 7.4% in the third quarter. Hamlin Capital Management LLC now owns 314,543 shares of the construction company’s stock worth $154,717,000 after purchasing an additional 21,649 shares during the period. Institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on WSO. Robert W. Baird dropped their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price objective on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st.

Watsco Price Performance

Shares of Watsco stock opened at $527.17 on Tuesday. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $545.49. The firm’s 50-day moving average is $493.90 and its 200 day moving average is $483.20. The stock has a market cap of $21.29 billion, a price-to-earnings ratio of 40.74 and a beta of 0.88.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the company earned $4.35 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities analysts expect that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio is currently 83.46%.

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.