Tower Bridge Advisors Sells 86 Shares of Watsco, Inc. (NYSE:WSO)

Tower Bridge Advisors trimmed its position in shares of Watsco, Inc. (NYSE:WSO) by 0.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 17,312 shares of the construction company’s stock after selling 86 shares during the quarter. Tower Bridge Advisors’ holdings in Watsco were worth $8,516,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WSO. EntryPoint Capital LLC lifted its position in shares of Watsco by 100.0% in the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after purchasing an additional 29 shares during the period. Quarry LP bought a new stake in shares of Watsco in the 2nd quarter worth approximately $26,000. Tortoise Investment Management LLC boosted its holdings in Watsco by 76.2% in 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 in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Watsco in the third quarter worth approximately $43,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st.

Watsco Trading Down 1.0 %

Shares of WSO stock opened at $520.74 on Friday. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $545.49. The stock’s 50-day moving average price is $492.47 and its 200-day moving average price is $482.48. The stock has a market capitalization of $21.03 billion, a price-to-earnings ratio of 40.24 and a beta of 0.88.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing the consensus estimate of $4.73 by ($0.51). The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.35 earnings per share. As a group, research analysts predict that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

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.