IFP Advisors Inc Sells 86 Shares of Watsco, Inc. $WSO

IFP Advisors Inc trimmed its holdings in Watsco, Inc. (NYSE:WSO) by 21.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 316 shares of the construction company’s stock after selling 86 shares during the period. IFP Advisors Inc’s holdings in Watsco were worth $140,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in WSO. Callan Family Office LLC raised its holdings in shares of Watsco by 180.2% in the 2nd quarter. Callan Family Office LLC now owns 2,306 shares of the construction company’s stock worth $1,018,000 after acquiring an additional 1,483 shares during the last quarter. Roundview Capital LLC raised its stake in shares of Watsco by 61.3% in the second quarter. Roundview Capital LLC now owns 2,334 shares of the construction company’s stock worth $1,031,000 after purchasing an additional 887 shares during the last quarter. KLP Kapitalforvaltning AS lifted its holdings in shares of Watsco by 1.6% in the second quarter. KLP Kapitalforvaltning AS now owns 12,400 shares of the construction company’s stock valued at $5,476,000 after purchasing an additional 200 shares in the last quarter. Trueblood Wealth Management LLC boosted its position in shares of Watsco by 4.1% during the second quarter. Trueblood Wealth Management LLC now owns 4,157 shares of the construction company’s stock valued at $1,836,000 after buying an additional 163 shares during the last quarter. Finally, Capital Advisors Inc. OK boosted its position in shares of Watsco by 1.1% during the second quarter. Capital Advisors Inc. OK now owns 60,546 shares of the construction company’s stock valued at $26,738,000 after buying an additional 637 shares during the last quarter. 89.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WSO has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Watsco from $425.00 to $400.00 and set a “neutral” rating on the stock in a research note on Wednesday. William Blair reissued a “market perform” rating on shares of Watsco in a research report on Wednesday. Mizuho cut their price target on shares of Watsco from $525.00 to $400.00 and set a “neutral” rating on the stock in a report on Friday. UBS Group decreased their price objective on shares of Watsco from $450.00 to $425.00 and set a “neutral” rating for the company in a research note on Tuesday, September 23rd. Finally, Morgan Stanley cut their target price on Watsco from $505.00 to $460.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $447.50.

Watsco Price Performance

NYSE:WSO opened at $371.41 on Friday. Watsco, Inc. has a 1 year low of $350.00 and a 1 year high of $571.41. The stock’s fifty day moving average price is $398.64 and its two-hundred day moving average price is $439.75. The company has a market cap of $15.06 billion, a P/E ratio of 28.48 and a beta of 0.94.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Wednesday, July 30th. The construction company reported $4.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.84 by ($0.32). Watsco had a net margin of 7.08% and a return on equity of 16.96%. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the business posted $4.49 EPS. Watsco’s quarterly revenue was down 3.6% on a year-over-year basis. On average, analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Thursday, October 16th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.2%. 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.