Watsco, Inc. (NYSE:WSO) Shares Sold by Charter Oak Capital Management LLC

Charter Oak Capital Management LLC cut its holdings in shares of Watsco, Inc. (NYSE:WSO) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,500 shares of the construction company’s stock after selling 40 shares during the period. Charter Oak Capital Management LLC’s holdings in Watsco were worth $1,158,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in WSO. Norges Bank acquired a new stake in Watsco during the 4th quarter worth about $102,958,000. Motley Fool Asset Management LLC lifted its position in shares of Watsco by 263.6% in the 1st quarter. Motley Fool Asset Management LLC now owns 320,008 shares of the construction company’s stock valued at $138,234,000 after acquiring an additional 231,987 shares in the last quarter. Swedbank AB acquired a new position in Watsco in the 1st quarter worth approximately $90,714,000. Vanguard Group Inc. grew its position in Watsco by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock worth $1,473,836,000 after purchasing an additional 146,305 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Watsco by 1,005.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 103,143 shares of the construction company’s stock valued at $44,194,000 after purchasing an additional 93,810 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WSO has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised 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. Stephens reaffirmed an “overweight” rating and set a $500.00 target price on shares of Watsco in a research note on Thursday, April 25th. Finally, Robert W. Baird increased their price target on shares of Watsco from $460.00 to $522.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Watsco has a consensus rating of “Hold” and an average price target of $433.71.

Watsco Stock Up 1.5 %

Shares of WSO traded up $7.01 during midday trading on Friday, reaching $485.63. 185,923 shares of the stock were exchanged, compared to its average volume of 305,683. The company has a market cap of $19.57 billion, a price-to-earnings ratio of 37.52 and a beta of 0.88. The firm has a 50 day simple moving average of $481.57 and a 200-day simple moving average of $449.45. Watsco, Inc. has a 12-month low of $338.58 and a 12-month high of $520.41. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01.

Watsco (NYSE:WSO) last posted its earnings results on Tuesday, July 30th. The construction company reported $4.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). Watsco had a net margin of 7.02% and a return on equity of 18.55%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the firm earned $4.42 earnings per share. Watsco’s revenue was up 5.0% compared to the same quarter last year. Research analysts forecast that Watsco, Inc. will post 13.88 EPS for the current year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Tuesday, July 16th. Watsco’s payout ratio is 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.