Capital Fund Management S.A. decreased its stake in Watsco Inc. (NYSE:WSO) by 93.9% during the second quarter, Holdings Channel reports. The firm owned 3,160 shares of the company’s stock after selling 48,527 shares during the period. Capital Fund Management S.A.’s holdings in Watsco were worth $445,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Donaldson Capital Management LLC raised its position in shares of Watsco by 14.1% in the first quarter. Donaldson Capital Management LLC now owns 15,817 shares of the company’s stock valued at $2,131,000 after buying an additional 1,951 shares during the period. BB&T Securities LLC raised its position in shares of Watsco by 3.2% in the first quarter. BB&T Securities LLC now owns 16,700 shares of the company’s stock valued at $2,250,000 after buying an additional 510 shares during the period. 1832 Asset Management L.P. bought a new position in shares of Watsco during the first quarter valued at $787,000. Royce & Associates LP bought a new position in shares of Watsco during the first quarter valued at $862,000. Finally, Advisor Partners LLC bought a new position in shares of Watsco during the first quarter valued at $204,000. 67.33% of the stock is owned by institutional investors.
Shares of Watsco Inc. (NYSE:WSO) traded down 1.08% on Thursday, reaching $139.35. 108,108 shares of the company were exchanged. The company has a 50-day moving average price of $143.75 and a 200 day moving average price of $138.82. Watsco Inc. has a 1-year low of $106.58 and a 1-year high of $149.99. The stock has a market capitalization of $4.54 billion, a PE ratio of 28.24 and a beta of 0.94.
Watsco (NYSE:WSO) last released its quarterly earnings results on Friday, July 22nd. The company reported $1.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.04 by $0.22. The company earned $1.21 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Watsco had a return on equity of 13.65% and a net margin of 4.05%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.85 EPS. On average, analysts forecast that Watsco Inc. will post $5.31 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Monday, October 17th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Thursday, October 13th. This is a boost from Watsco’s previous quarterly dividend of $0.85. Watsco’s dividend payout ratio is currently 69.11%.
Several brokerages have weighed in on WSO. Seaport Global Securities lowered shares of Watsco from an “accumulate” rating to a “neutral” rating and set a $150.00 target price for the company. in a research note on Monday, July 25th. Stifel Nicolaus lowered their target price on shares of Watsco from $154.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 25th. Barclays PLC set a $113.00 target price on shares of Watsco and gave the stock a “sell” rating in a research note on Monday, July 25th. JPMorgan Chase & Co. lowered their price objective on shares of Watsco from $131.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday, July 27th. Finally, Zacks Investment Research raised shares of Watsco from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $138.50.
Watsco, Inc (Watsco) is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R). The Company operates in the HVAC/R distribution industry in North America. The Company operates at approximately 570 locations in over 40 United States’ states, Canada, Mexico and Puerto Rico.
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