Arcadia Investment Management Corp MI Sells 250 Shares of Watsco, Inc. $WSO

Arcadia Investment Management Corp MI lessened its position in shares of Watsco, Inc. (NYSE:WSO) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,638 shares of the construction company’s stock after selling 250 shares during the quarter. Watsco comprises about 1.2% of Arcadia Investment Management Corp MI’s investment portfolio, making the stock its 27th largest position. Arcadia Investment Management Corp MI’s holdings in Watsco were worth $7,789,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in WSO. Goldman Sachs Group Inc. lifted its position in Watsco by 62.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 468,875 shares of the construction company’s stock valued at $238,329,000 after purchasing an additional 180,951 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Watsco during the 1st quarter worth approximately $54,536,000. Charles Schwab Investment Management Inc. raised its stake in shares of Watsco by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,454,512 shares of the construction company’s stock worth $739,088,000 after buying an additional 82,977 shares during the last quarter. Nuveen LLC acquired a new position in Watsco in the first quarter valued at approximately $41,218,000. Finally, Schwartz Investment Counsel Inc. lifted its holdings in Watsco by 81.8% in the second quarter. Schwartz Investment Counsel Inc. now owns 120,000 shares of the construction company’s stock valued at $52,994,000 after buying an additional 54,000 shares during the period. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

Shares of WSO opened at $342.35 on Friday. The firm has a market cap of $13.88 billion, a P/E ratio of 26.75 and a beta of 0.93. Watsco, Inc. has a twelve month low of $340.66 and a twelve month high of $571.41. The firm’s 50 day moving average price is $377.65 and its two-hundred day moving average price is $421.99.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Friday, November 7th. The construction company reported $3.98 EPS for the quarter. The business had revenue of $2.07 billion for the quarter. Watsco had a net margin of 7.04% and a return on equity of 16.48%. On average, sell-side 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 Friday, October 31st. Shareholders of record on Thursday, October 16th were paid a $3.00 dividend. The ex-dividend date of this dividend was Thursday, October 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.5%. Watsco’s dividend payout ratio (DPR) is currently 93.75%.

Analysts Set New Price Targets

A number of research firms have commented on WSO. Zacks Research lowered shares of Watsco from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. reduced their price target on Watsco from $400.00 to $360.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Mizuho dropped their price objective on Watsco from $525.00 to $400.00 and set a “neutral” rating for the company in a report on Friday, October 17th. UBS Group cut their target price on Watsco from $425.00 to $390.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Finally, William Blair restated a “market perform” rating on shares of Watsco in a report on Wednesday, October 15th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Watsco presently has a consensus rating of “Hold” and a consensus target price of $435.00.

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.