Motley Fool Wealth Management LLC Sells 805 Shares of Watsco, Inc. (NYSE:WSO)

Motley Fool Wealth Management LLC reduced its stake in Watsco, Inc. (NYSE:WSO) by 2.5% during the third quarter, Holdings Channel.com reports. The firm owned 31,585 shares of the construction company’s stock after selling 805 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in Watsco were worth $15,536,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of WSO. Gateway Investment Advisers LLC bought a new stake in shares of Watsco in the 2nd quarter worth about $2,109,000. Citizens Financial Group Inc. RI grew its position in Watsco by 40.6% in the third quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock worth $1,582,000 after acquiring an additional 929 shares in the last quarter. Larson Financial Group LLC increased its stake in Watsco by 3,571.0% during the third quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock worth $560,000 after acquiring an additional 1,107 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Watsco by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock valued at $31,853,000 after purchasing an additional 1,074 shares during the period. Finally, Markel Group Inc. lifted its stake in shares of Watsco by 0.9% in the 2nd quarter. Markel Group Inc. now owns 571,250 shares of the construction company’s stock valued at $264,626,000 after purchasing an additional 5,000 shares during the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WSO has been the topic of a number of analyst reports. Northcoast Research initiated coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Robert W. Baird cut their price target 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $491.25.

Watsco Price Performance

NYSE:WSO opened at $543.19 on Wednesday. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41. The company has a 50-day moving average of $507.41 and a 200 day moving average of $488.47. The firm has a market cap of $21.94 billion, a PE ratio of 41.98 and a beta of 0.92.

Watsco (NYSE:WSO) last announced its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (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 company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the business posted $4.35 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. Sell-side analysts anticipate 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. Shareholders of record on Wednesday, October 16th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio 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.