Fmr LLC trimmed its position in Watsco Inc (NYSE:WSO) by 0.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,037,445 shares of the construction company’s stock after selling 2,053 shares during the period. Fmr LLC’s holdings in Watsco were worth $184,955,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Guggenheim Capital LLC increased its holdings in Watsco by 8.4% during the 1st quarter. Guggenheim Capital LLC now owns 5,592 shares of the construction company’s stock worth $1,013,000 after purchasing an additional 435 shares in the last quarter. Legal & General Group Plc increased its holdings in Watsco by 16.5% during the 1st quarter. Legal & General Group Plc now owns 43,300 shares of the construction company’s stock worth $7,836,000 after purchasing an additional 6,122 shares in the last quarter. Royal Bank of Canada increased its holdings in Watsco by 6.3% during the 1st quarter. Royal Bank of Canada now owns 44,582 shares of the construction company’s stock worth $8,068,000 after purchasing an additional 2,661 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Watsco by 8.0% during the 1st quarter. Principal Financial Group Inc. now owns 140,672 shares of the construction company’s stock worth $25,457,000 after purchasing an additional 10,442 shares in the last quarter. Finally, Caledonia Investments PLC bought a new stake in Watsco during the 2nd quarter worth approximately $27,986,000. 83.04% of the stock is owned by institutional investors and hedge funds.
WSO has been the subject of a number of recent research reports. Zacks Investment Research raised Watsco from a “hold” rating to a “buy” rating and set a $197.00 price objective for the company in a report on Thursday, September 27th. Buckingham Research decreased their price objective on Watsco from $187.00 to $167.00 and set a “neutral” rating for the company in a report on Friday, October 26th. ValuEngine raised Watsco from a “hold” rating to a “buy” rating in a report on Tuesday, September 11th. Seaport Global Securities lowered Watsco from a “buy” rating to a “neutral” rating in a report on Thursday, July 26th. Finally, Jefferies Financial Group initiated coverage on Watsco in a report on Friday, October 12th. They set a “hold” rating and a $160.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $182.38.
Shares of NYSE WSO opened at $149.23 on Friday. Watsco Inc has a twelve month low of $138.61 and a twelve month high of $192.94. The company has a market capitalization of $5.58 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 1.85 and a beta of 0.91. The company has a current ratio of 2.95, a quick ratio of 1.36 and a debt-to-equity ratio of 0.09.
Watsco (NYSE:WSO) last announced its earnings results on Thursday, October 25th. The construction company reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.15). Watsco had a return on equity of 14.00% and a net margin of 5.15%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the firm earned $1.82 EPS. On average, analysts forecast that Watsco Inc will post 6.46 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Monday, October 15th were paid a $1.45 dividend. The ex-dividend date of this dividend was Friday, October 12th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 3.89%. Watsco’s payout ratio is presently 105.84%.
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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