Creative Planning Has $2.65 Million Stock Holdings in Watsco, Inc. $WSO

Creative Planning trimmed its holdings in shares of Watsco, Inc. (NYSE:WSO) by 13.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 6,001 shares of the construction company’s stock after selling 906 shares during the period. Creative Planning’s holdings in Watsco were worth $2,650,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in WSO. Goldman Sachs Group Inc. raised its position in Watsco by 62.8% in the first quarter. Goldman Sachs Group Inc. now owns 468,875 shares of the construction company’s stock worth $238,329,000 after purchasing an additional 180,951 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Watsco in the 1st quarter valued at approximately $54,536,000. Charles Schwab Investment Management Inc. grew its stake in shares of Watsco by 6.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,454,512 shares of the construction company’s stock valued at $739,088,000 after purchasing an additional 82,977 shares during the period. Nuveen LLC acquired a new position in shares of Watsco in the 1st quarter worth approximately $41,218,000. Finally, Schwartz Investment Counsel Inc. raised its holdings in shares of Watsco by 81.8% in the 2nd quarter. Schwartz Investment Counsel Inc. now owns 120,000 shares of the construction company’s stock worth $52,994,000 after buying an additional 54,000 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Watsco Stock Up 4.0%

Shares of NYSE:WSO opened at $336.58 on Monday. The firm has a market cap of $13.65 billion, a P/E ratio of 26.30 and a beta of 0.93. Watsco, Inc. has a 12 month low of $323.05 and a 12 month high of $571.41. The company’s 50-day moving average price is $371.55 and its two-hundred day moving average price is $416.67.

Watsco (NYSE:WSO) last announced its earnings results on Friday, November 7th. The construction company reported $3.98 earnings per share for the quarter. Watsco had a net margin of 7.04% and a return on equity of 16.48%. The company had revenue of $2.07 billion during the quarter. As a group, equities analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Thursday, October 16th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Thursday, October 16th. This represents a $12.00 annualized dividend and a yield of 3.6%. Watsco’s dividend payout ratio is currently 93.75%.

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.