International Private Wealth Advisors LLC Reduces Stock Position in Watsco, Inc. (NYSE:WSO)

International Private Wealth Advisors LLC lessened its stake in shares of Watsco, Inc. (NYSE:WSO) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 773 shares of the construction company’s stock after selling 35 shares during the quarter. International Private Wealth Advisors LLC’s holdings in Watsco were worth $380,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WSO. SG Americas Securities LLC increased its position in Watsco by 39.8% during the 1st quarter. SG Americas Securities LLC now owns 2,451 shares of the construction company’s stock worth $1,059,000 after purchasing an additional 698 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Watsco by 1.9% in the 1st quarter. Russell Investments Group Ltd. now owns 16,773 shares of the construction company’s stock valued at $7,246,000 after buying an additional 320 shares during the period. Entropy Technologies LP purchased a new stake in Watsco in the 1st quarter valued at about $527,000. Koshinski Asset Management Inc. purchased a new stake in Watsco in the 1st quarter valued at about $230,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Watsco by 15.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,215 shares of the construction company’s stock valued at $7,868,000 after buying an additional 2,373 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. Robert W. Baird lowered their price target 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. lifted 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.

Watsco Stock Down 2.5 %

Shares of NYSE WSO traded down $13.38 during midday trading on Thursday, hitting $529.68. The stock had a trading volume of 36,841 shares, compared to its average volume of 283,549. The company has a market capitalization of $21.39 billion, a price-to-earnings ratio of 41.97 and a beta of 0.88. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $545.49. The company has a fifty day moving average price of $489.51 and a 200 day moving average price of $481.42.

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $4.35 earnings per share. On average, research analysts forecast that Watsco, Inc. will post 13.2 EPS for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

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.