Watsco, Inc. (NYSE:WSO) Stake Reduced by Raymond James Trust N.A.

Raymond James Trust N.A. lowered its stake in Watsco, Inc. (NYSE:WSO) by 4.9% during the second quarter, HoldingsChannel reports. The firm owned 4,254 shares of the construction company’s stock after selling 217 shares during the period. Raymond James Trust N.A.’s holdings in Watsco were worth $1,971,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. EntryPoint Capital LLC increased its stake in Watsco by 100.0% in the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after purchasing an additional 29 shares in the last quarter. First PREMIER Bank purchased a new position in Watsco in the 1st quarter worth about $25,000. Cullen Frost Bankers Inc. acquired a new stake in Watsco during the 4th quarter valued at $28,000. ORG Partners LLC purchased a new stake in shares of Watsco in the first quarter valued at $31,000. Finally, Lindbrook Capital LLC boosted its position in shares of Watsco by 53.8% in the fourth quarter. Lindbrook Capital LLC now owns 80 shares of the construction company’s stock worth $34,000 after buying an additional 28 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Up 1.5 %

Shares of Watsco stock traded up $7.08 during midday trading on Friday, reaching $485.70. 186,216 shares of the company’s stock traded hands, compared to its average volume of 253,426. The company has a market cap of $19.57 billion, a price-to-earnings ratio of 37.36 and a beta of 0.88. Watsco, Inc. has a 52 week low of $338.58 and a 52 week high of $520.41. The company’s 50 day simple moving average is $481.71 and its 200 day simple moving average is $450.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.55 and a current ratio of 3.21.

Watsco (NYSE:WSO) last posted its earnings results on Tuesday, July 30th. The construction company reported $4.49 earnings per share 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 company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the business earned $4.42 earnings per share. Watsco’s quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts expect that Watsco, Inc. will post 13.83 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th were issued a dividend of $2.70 per share. The ex-dividend date was Tuesday, July 16th. This represents a $10.80 annualized dividend and a yield of 2.22%. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WSO shares. JPMorgan Chase & Co. increased their price objective on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird lifted their price objective on Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Watsco presently has an average rating of “Hold” and an average price target of $433.71.

Watsco 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.