Huntington National Bank Sells 88 Shares of Watsco, Inc. (NYSE:WSO)

Huntington National Bank trimmed its stake in shares of Watsco, Inc. (NYSE:WSO) by 10.6% in the third quarter, Holdings Channel.com reports. The fund owned 745 shares of the construction company’s stock after selling 88 shares during the quarter. Huntington National Bank’s holdings in Watsco were worth $366,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC increased its position in Watsco by 48,984.7% during the 3rd quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock valued at $114,924,000 after purchasing an additional 233,167 shares during the period. Swedbank AB acquired a new stake in shares of Watsco during the first quarter worth $90,714,000. Vanguard Group Inc. raised its stake in Watsco by 4.5% during 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 during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Watsco by 225.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 38,830 shares of the construction company’s stock valued at $16,610,000 after buying an additional 26,911 shares during the period. Finally, Interval Partners LP acquired a new position in Watsco in the second quarter valued at $11,740,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Watsco Trading Down 1.0 %

Shares of NYSE WSO opened at $520.74 on Friday. The firm has a market capitalization of $21.03 billion, a P/E ratio of 40.24 and a beta of 0.88. The firm’s 50-day moving average price is $492.47 and its 200-day moving average price is $482.48. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $545.49.

Watsco (NYSE:WSO) last issued its 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). The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $4.35 earnings per share. Equities research analysts forecast that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio is currently 83.46%.

Watsco 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.