Wealth Enhancement Advisory Services LLC Decreases Stock Position in Watsco, Inc. $WSO

Wealth Enhancement Advisory Services LLC trimmed its stake in shares of Watsco, Inc. (NYSE:WSO) by 13.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,915 shares of the construction company’s stock after selling 2,071 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Watsco were worth $4,970,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of WSO. Empowered Funds LLC boosted its stake in shares of Watsco by 4.1% in the 1st quarter. Empowered Funds LLC now owns 5,927 shares of the construction company’s stock valued at $3,013,000 after buying an additional 232 shares during the period. American Century Companies Inc. increased its stake in shares of Watsco by 17.6% during the second quarter. American Century Companies Inc. now owns 18,711 shares of the construction company’s stock worth $8,263,000 after buying an additional 2,803 shares during the period. Prudential Financial Inc. increased its stake in shares of Watsco by 5.3% during the second quarter. Prudential Financial Inc. now owns 3,837 shares of the construction company’s stock worth $1,694,000 after buying an additional 194 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in Watsco by 2.7% in the second quarter. Steward Partners Investment Advisory LLC now owns 2,544 shares of the construction company’s stock valued at $1,123,000 after acquiring an additional 68 shares in the last quarter. Finally, Korea Investment CORP raised its holdings in Watsco by 12.5% in the second quarter. Korea Investment CORP now owns 25,625 shares of the construction company’s stock valued at $11,317,000 after acquiring an additional 2,840 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Down 0.3%

Shares of WSO opened at $346.29 on Monday. The company has a market capitalization of $14.06 billion, a price-to-earnings ratio of 28.60 and a beta of 1.03. Watsco, Inc. has a 52-week low of $323.05 and a 52-week high of $521.09. The stock has a 50 day moving average price of $394.13 and a 200 day moving average price of $374.07.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, February 17th. The construction company reported $1.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.26). The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.62 billion. Watsco had a return on equity of 15.49% and a net margin of 6.87%.The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.37 EPS. On average, equities analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 16th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, January 16th. Watsco’s dividend payout ratio (DPR) is currently 99.09%.

Wall Street Analyst Weigh In

Several research firms have commented on WSO. UBS Group began coverage on shares of Watsco in a report on Monday, January 5th. They set a “neutral” rating and a $370.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of Watsco from $370.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, February 19th. Mizuho set a $425.00 price objective on shares of Watsco in a research report on Wednesday, February 18th. Morgan Stanley lowered their target price on shares of Watsco from $460.00 to $370.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 14th. Finally, Zacks Research raised Watsco from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $409.00.

About Watsco

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.