MassMutual Private Wealth & Trust FSB Has $374,000 Stock Holdings in Watsco, Inc. $WSO

MassMutual Private Wealth & Trust FSB reduced its position in shares of Watsco, Inc. (NYSE:WSO) by 8.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 846 shares of the construction company’s stock after selling 74 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Watsco were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Watsco during the 1st quarter worth about $25,000. Manitou Investment Management Ltd. bought a new stake in Watsco during the 1st quarter worth about $25,000. WPG Advisers LLC bought a new stake in Watsco during the 1st quarter worth about $25,000. TCTC Holdings LLC raised its holdings in Watsco by 115.4% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the construction company’s stock worth $28,000 after purchasing an additional 30 shares during the last quarter. Finally, City Holding Co. bought a new stake in Watsco during the 1st quarter worth about $29,000. 89.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WSO has been the subject of several recent research reports. UBS Group dropped their price objective on Watsco from $455.00 to $450.00 and set a “neutral” rating for the company in a report on Wednesday, June 25th. Morgan Stanley set a $505.00 price objective on Watsco in a report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. upped their price target on Watsco from $445.00 to $460.00 and gave the company a “neutral” rating in a research note on Tuesday, May 27th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $484.17.

Watsco Stock Down 0.7%

NYSE:WSO opened at $384.77 on Friday. Watsco, Inc. has a twelve month low of $378.35 and a twelve month high of $571.41. The business has a 50 day moving average price of $427.46 and a two-hundred day moving average price of $457.25. The company has a market cap of $15.60 billion, a P/E ratio of 29.51 and a beta of 0.95.

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, July 30th. The construction company reported $4.52 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.32). Watsco had a return on equity of 16.96% and a net margin of 7.08%.The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the company earned $4.49 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. As a group, analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Wednesday, July 16th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Wednesday, July 16th. This represents a $12.00 dividend on an annualized basis and a yield of 3.1%. Watsco’s dividend payout ratio is 92.02%.

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.