Ascent Group LLC Sells 144 Shares of Watsco, Inc. (NYSE:WSO)

Ascent Group LLC reduced its position in shares of Watsco, Inc. (NYSE:WSO) by 6.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,275 shares of the construction company’s stock after selling 144 shares during the quarter. Ascent Group LLC’s holdings in Watsco were worth $1,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its holdings in Watsco by 168.8% in the first quarter. Janus Henderson Group PLC now owns 2,075 shares of the construction company’s stock valued at $895,000 after buying an additional 1,303 shares during the period. Tidal Investments LLC acquired a new position in shares of Watsco in the 1st quarter valued at $214,000. Cetera Investment Advisers lifted its stake in shares of Watsco by 209.4% in the 1st quarter. Cetera Investment Advisers now owns 8,379 shares of the construction company’s stock valued at $3,619,000 after purchasing an additional 5,671 shares during the period. Cetera Advisors LLC boosted its position in shares of Watsco by 22.9% in the 1st quarter. Cetera Advisors LLC now owns 4,603 shares of the construction company’s stock worth $1,988,000 after purchasing an additional 857 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Watsco by 38.8% during the second quarter. GAMMA Investing LLC now owns 358 shares of the construction company’s stock worth $166,000 after purchasing an additional 100 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WSO shares. Robert W. Baird reduced their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Northcoast Research started coverage on shares of Watsco in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Watsco presently has a consensus rating of “Moderate Buy” and an average target price of $491.25.

Watsco Trading Up 0.0 %

NYSE:WSO opened at $543.19 on Wednesday. The stock has a market cap of $21.93 billion, a price-to-earnings ratio of 41.98 and a beta of 0.92. The stock has a 50-day moving average price of $507.41 and a two-hundred day moving average price of $488.47. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41.

Watsco (NYSE:WSO) last posted its earnings results 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 business 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%. Watsco’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $4.35 earnings per share. Sell-side analysts forecast that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 1.99%. Watsco’s payout ratio is 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.