Watsco, Inc. $WSO Shares Sold by Cwm LLC

Cwm LLC decreased its position in Watsco, Inc. (NYSE:WSO) by 8.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 793 shares of the construction company’s stock after selling 74 shares during the quarter. Cwm LLC’s holdings in Watsco were worth $350,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WSO. WPG Advisers LLC purchased a new position in Watsco in the 1st quarter valued at $25,000. Ameritas Advisory Services LLC purchased a new stake in shares of Watsco during the 2nd quarter worth $26,000. TCTC Holdings LLC boosted its position in shares of 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 in the last quarter. Rossby Financial LCC purchased a new stake in shares of Watsco during the 1st quarter worth $33,000. Finally, Ransom Advisory Ltd purchased a new stake in shares of Watsco during the 1st quarter worth $45,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

NYSE:WSO opened at $362.01 on Friday. Watsco, Inc. has a 1 year low of $350.00 and a 1 year high of $571.41. The stock has a market cap of $14.68 billion, a price-to-earnings ratio of 27.76 and a beta of 0.94. The business has a fifty day moving average of $393.13 and a 200-day moving average of $436.04.

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

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Thursday, October 16th will be given a dividend of $3.00 per share. The ex-dividend date is Thursday, October 16th. This represents a $12.00 dividend on an annualized basis and a yield of 3.3%. Watsco’s dividend payout ratio (DPR) is presently 92.02%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WSO shares. Morgan Stanley cut their price target on Watsco from $505.00 to $460.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their target price on shares of Watsco from $425.00 to $400.00 and set a “neutral” rating on the stock in a report on Wednesday, October 15th. William Blair restated a “market perform” rating on shares of Watsco in a report on Wednesday, October 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Watsco in a research note on Wednesday, October 8th. Finally, UBS Group decreased their target price on Watsco from $450.00 to $425.00 and set a “neutral” rating for the company in a report on Tuesday, September 23rd. One analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Watsco has an average rating of “Hold” and an average target price of $447.50.

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.