Watsco, Inc. (NYSE:WSO) Shares Sold by LGT Financial Advisors LLC

LGT Financial Advisors LLC lowered its position in shares of Watsco, Inc. (NYSE:WSO) by 28.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 123 shares of the construction company’s stock after selling 50 shares during the quarter. LGT Financial Advisors LLC’s holdings in Watsco were worth $60,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Watsco in the second quarter valued at $26,000. EntryPoint Capital LLC lifted its stake in Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after purchasing an additional 29 shares during the last quarter. ORG Partners LLC purchased a new position in Watsco during the 1st quarter worth approximately $31,000. Tortoise Investment Management LLC boosted its position in Watsco by 76.2% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after purchasing an additional 32 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Watsco during the 1st quarter valued at $38,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

WSO opened at $516.34 on Thursday. Watsco, Inc. has a 1 year low of $362.26 and a 1 year high of $520.41. The firm’s fifty day moving average price is $481.85 and its two-hundred day moving average price is $477.52. The company has a market capitalization of $20.83 billion, a price-to-earnings ratio of 39.90 and a beta of 0.88.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the business posted $4.35 EPS. Watsco’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, equities analysts anticipate that Watsco, Inc. will post 13.28 EPS for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Wednesday, October 16th. Watsco’s payout ratio is presently 83.46%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WSO. JPMorgan Chase & Co. lifted their price objective on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Robert W. Baird reduced their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th.

Watsco 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.