Cutter & CO Brokerage Inc. Decreases Stock Holdings in Watsco, Inc. (NYSE:WSO)

Cutter & CO Brokerage Inc. lessened its holdings in Watsco, Inc. (NYSE:WSO) by 0.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,806 shares of the construction company’s stock after selling 122 shares during the period. Watsco comprises approximately 1.4% of Cutter & CO Brokerage Inc.’s holdings, making the stock its 14th biggest holding. Cutter & CO Brokerage Inc.’s holdings in Watsco were worth $5,932,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Shaker Investments LLC OH grew its position in Watsco by 0.3% in the first quarter. Shaker Investments LLC OH now owns 7,564 shares of the construction company’s stock valued at $3,267,000 after acquiring an additional 24 shares in the last quarter. Mather Group LLC. grew its holdings in Watsco by 10.2% during the 2nd quarter. Mather Group LLC. now owns 293 shares of the construction company’s stock valued at $127,000 after purchasing an additional 27 shares in the last quarter. Lincoln National Corp lifted its holdings in Watsco by 4.0% in the 4th quarter. Lincoln National Corp now owns 728 shares of the construction company’s stock worth $312,000 after buying an additional 28 shares in the last quarter. EntryPoint Capital LLC boosted its position in Watsco by 100.0% in the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after buying an additional 29 shares during the last quarter. Finally, Salomon & Ludwin LLC grew its stake in shares of Watsco by 52.6% during the first quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock valued at $38,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

WSO has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target 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 upped their price target on shares of Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $433.71.

Watsco Stock Performance

NYSE WSO traded up $8.74 during trading hours on Friday, hitting $475.42. The company had a trading volume of 296,745 shares, compared to its average volume of 189,275. Watsco, Inc. has a fifty-two week low of $338.58 and a fifty-two week high of $520.41. The firm has a market cap of $19.18 billion, a P/E ratio of 36.57 and a beta of 0.88. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $480.65 and a 200-day simple moving average of $452.91.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $4.49 EPS for the quarter, missing the consensus estimate of $4.70 by ($0.21). Watsco had a net margin of 7.02% and a return on equity of 18.55%. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the business posted $4.42 EPS. Watsco’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities analysts predict that Watsco, Inc. will post 13.83 EPS for the current year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 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 2.27%. The ex-dividend date was Tuesday, July 16th. Watsco’s dividend payout ratio (DPR) is 83.08%.

About Watsco

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.