Watsco, Inc. (NYSE:WSO) Shares Sold by Capital Advisors Inc. OK

Capital Advisors Inc. OK reduced its holdings in Watsco, Inc. (NYSE:WSO) by 0.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 59,476 shares of the construction company’s stock after selling 276 shares during the quarter. Capital Advisors Inc. OK owned approximately 0.15% of Watsco worth $29,255,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Quarry LP acquired a new position in Watsco in the second quarter valued at approximately $26,000. EntryPoint Capital LLC increased its position in 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 during the period. ORG Partners LLC bought a new stake in Watsco in the first quarter valued at $31,000. Tortoise Investment Management LLC grew its position in shares of Watsco by 76.2% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after acquiring an additional 32 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in Watsco during the 1st quarter valued at about $38,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Watsco Price Performance

NYSE:WSO opened at $474.05 on Friday. Watsco, Inc. has a 52-week low of $359.59 and a 52-week high of $520.41. The company has a quick ratio of 1.65, a current ratio of 3.36 and a debt-to-equity ratio of 0.01. The firm has a market cap of $19.12 billion, a P/E ratio of 36.63 and a beta of 0.88. The business’s 50-day moving average price is $481.62 and its 200 day moving average price is $475.41.

Watsco (NYSE:WSO) last released its earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the company earned $4.35 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts predict that Watsco, Inc. will post 13.28 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.28%. 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.