Grace & White Inc. NY Sells 2,600 Shares of Watsco, Inc. (NYSE:WSO)

Grace & White Inc. NY lessened its position in shares of Watsco, Inc. (NYSE:WSO) by 6.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,950 shares of the construction company’s stock after selling 2,600 shares during the quarter. Watsco comprises about 3.5% of Grace & White Inc. NY’s investment portfolio, making the stock its 6th largest position. Grace & White Inc. NY owned approximately 0.10% of Watsco worth $19,651,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in WSO. EntryPoint Capital LLC lifted its stake in shares of 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 acquiring an additional 29 shares during the period. Quarry LP acquired a new position in Watsco in the second quarter valued at about $26,000. ORG Partners LLC acquired a new position in Watsco in the first quarter valued at about $31,000. Tortoise Investment Management LLC lifted its stake in Watsco by 76.2% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after buying an additional 32 shares during the period. Finally, Salomon & Ludwin LLC lifted its stake in Watsco by 52.6% in the first quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock valued at $38,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird increased their target price on Watsco from $522.00 to $550.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th.

Watsco Trading Down 2.2 %

NYSE:WSO opened at $491.83 on Tuesday. Watsco, Inc. has a 1-year low of $338.58 and a 1-year high of $520.41. The business’s 50-day moving average price is $481.44 and its two-hundred day moving average price is $472.63. The firm has a market capitalization of $19.82 billion, a price-to-earnings ratio of 37.83 and a beta of 0.88. The company has a current ratio of 3.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.01.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $4.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.70 by ($0.21). Watsco had a return on equity of 18.55% and a net margin of 7.02%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the company earned $4.42 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. On average, equities analysts expect that Watsco, Inc. will post 13.78 earnings per share for the current year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be issued a $2.70 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $10.80 annualized dividend and a dividend yield of 2.20%. Watsco’s dividend payout ratio (DPR) is currently 83.08%.

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.