Nisa Investment Advisors LLC lowered its stake in shares of Watsco Inc (NYSE:WSO) by 18.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,350 shares of the construction company’s stock after selling 3,400 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Watsco were worth $2,728,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Aptus Capital Advisors LLC raised its stake in Watsco by 1.2% during the 2nd quarter. Aptus Capital Advisors LLC now owns 5,220 shares of the construction company’s stock valued at $928,000 after acquiring an additional 60 shares in the last quarter. Hunter Associates Investment Management LLC raised its stake in Watsco by 0.7% during the 1st quarter. Hunter Associates Investment Management LLC now owns 11,286 shares of the construction company’s stock valued at $1,784,000 after acquiring an additional 75 shares in the last quarter. Synovus Financial Corp raised its stake in Watsco by 18.3% during the 1st quarter. Synovus Financial Corp now owns 562 shares of the construction company’s stock valued at $89,000 after acquiring an additional 87 shares in the last quarter. San Francisco Sentry Investment Group CA raised its stake in Watsco by 12.9% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 916 shares of the construction company’s stock valued at $163,000 after acquiring an additional 105 shares in the last quarter. Finally, Creative Planning raised its stake in Watsco by 8.2% during the 2nd quarter. Creative Planning now owns 1,445 shares of the construction company’s stock valued at $257,000 after acquiring an additional 109 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.
Shares of Watsco stock opened at $236.07 on Friday. Watsco Inc has a 12-month low of $132.97 and a 12-month high of $236.23. The firm has a market capitalization of $8.99 billion, a PE ratio of 38.70 and a beta of 0.68. The company has a quick ratio of 1.22, a current ratio of 2.55 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average is $189.15 and its 200-day moving average is $171.36.
Watsco (NYSE:WSO) last issued its quarterly earnings results on Thursday, July 23rd. The construction company reported $2.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.38. Watsco had a return on equity of 13.38% and a net margin of 4.77%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the business posted $2.40 EPS. Watsco’s revenue was down .9% on a year-over-year basis. Analysts expect that Watsco Inc will post 6.27 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 16th were paid a dividend of $1.775 per share. This represents a $7.10 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Wednesday, July 15th. Watsco’s dividend payout ratio is presently 109.23%.
Several analysts have weighed in on WSO shares. Morgan Stanley lifted their target price on Watsco from $146.00 to $195.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. Seaport Global Securities reissued a “neutral” rating on shares of Watsco in a research note on Monday, July 27th. Zacks Investment Research raised Watsco from a “hold” rating to a “strong-buy” rating and set a $260.00 price objective on the stock in a research note on Thursday. Robert W. Baird dropped their price objective on Watsco from $170.00 to $168.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Watsco from $127.00 to $130.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $183.83.
Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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