Ipswich Investment Management Co. Inc. Sells 330 Shares of Watsco, Inc. (NYSE:WSO)

Ipswich Investment Management Co. Inc. trimmed its holdings in shares of Watsco, Inc. (NYSE:WSO) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,527 shares of the construction company’s stock after selling 330 shares during the period. Watsco comprises approximately 2.0% of Ipswich Investment Management Co. Inc.’s portfolio, making the stock its 11th largest position. Ipswich Investment Management Co. Inc.’s holdings in Watsco were worth $8,621,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of WSO. International Assets Investment Management LLC grew its holdings in shares of Watsco by 48,984.7% in the third quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock worth $114,924,000 after purchasing an additional 233,167 shares during the last quarter. Swedbank AB bought a new stake in Watsco in the 1st quarter worth $90,714,000. Vanguard Group Inc. increased its position in shares of Watsco by 4.5% in the first quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock valued at $1,473,836,000 after acquiring an additional 146,305 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Watsco by 225.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 38,830 shares of the construction company’s stock valued at $16,610,000 after acquiring an additional 26,911 shares during the last quarter. Finally, Interval Partners LP bought a new position in Watsco during the 2nd quarter valued at approximately $11,740,000. 89.71% of the stock is owned by institutional investors.

Watsco Trading Down 1.0 %

Watsco stock opened at $520.74 on Friday. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $545.49. The company has a market capitalization of $21.03 billion, a price-to-earnings ratio of 40.24 and a beta of 0.88. The business’s fifty day simple moving average is $492.47 and its two-hundred day simple moving average is $482.23.

Watsco (NYSE:WSO) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.35 earnings per share. On average, equities research analysts predict that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were paid a dividend of $2.70 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 2.07%. Watsco’s dividend payout ratio is 83.46%.

Analysts Set New Price Targets

A number of equities analysts recently commented on WSO shares. Robert W. Baird decreased their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. increased their target price on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st.

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.