Freedom Day Solutions LLC Cuts Holdings in Watsco, Inc. (NYSE:WSO)

Freedom Day Solutions LLC decreased its position in Watsco, Inc. (NYSE:WSO) by 1.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,492 shares of the construction company’s stock after selling 80 shares during the period. Watsco accounts for 1.1% of Freedom Day Solutions LLC’s holdings, making the stock its 17th biggest position. Freedom Day Solutions LLC’s holdings in Watsco were worth $3,685,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WSO. EntryPoint Capital LLC increased its position in shares of Watsco by 100.0% during the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after purchasing an additional 29 shares during the last quarter. Quarry LP bought a new stake in Watsco in the second quarter worth about $26,000. ORG Partners LLC bought a new stake in Watsco in the first quarter worth about $31,000. Tortoise Investment Management LLC grew its position in shares of Watsco by 76.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after acquiring an additional 32 shares during the period. Finally, Salomon & Ludwin LLC increased its stake in shares of Watsco by 52.6% during the 1st quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock worth $38,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

Watsco stock opened at $478.16 on Friday. The stock has a market cap of $19.27 billion, a price-to-earnings ratio of 36.78 and a beta of 0.88. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $481.96 and a 200 day simple moving average of $473.32. Watsco, Inc. has a 52 week low of $338.58 and a 52 week high of $520.41.

Watsco (NYSE:WSO) last issued its quarterly earnings data 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 return on equity of 18.55% and a net margin of 7.02%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the firm posted $4.35 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, research analysts forecast that Watsco, Inc. will post 13.78 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be paid a $2.70 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.26%. Watsco’s dividend payout ratio is presently 83.08%.

Analyst Ratings Changes

Several research firms recently commented on WSO. Robert W. Baird dropped their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. upped their price target on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st.

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.