Prosperity Consulting Group LLC Sells 1,058 Shares of Watsco, Inc. (NYSE:WSO)

Prosperity Consulting Group LLC decreased its position in shares of Watsco, Inc. (NYSE:WSO) by 8.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,441 shares of the construction company’s stock after selling 1,058 shares during the period. Prosperity Consulting Group LLC’s holdings in Watsco were worth $5,300,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in WSO. Jennison Associates LLC raised its position in Watsco by 50.9% in the 1st quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock worth $80,188,000 after purchasing an additional 62,593 shares during the period. Franklin Resources Inc. raised its holdings in shares of Watsco by 3.8% in the fourth quarter. Franklin Resources Inc. now owns 44,737 shares of the construction company’s stock worth $19,168,000 after buying an additional 1,650 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Watsco by 12.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 255,062 shares of the construction company’s stock worth $109,287,000 after acquiring an additional 28,047 shares during the last quarter. American National Bank boosted its holdings in Watsco by 878.1% during the 1st quarter. American National Bank now owns 2,416 shares of the construction company’s stock valued at $1,044,000 after acquiring an additional 2,169 shares during the period. Finally, First Trust Advisors LP grew its position in Watsco by 2.0% in the 4th quarter. First Trust Advisors LP now owns 310,787 shares of the construction company’s stock valued at $133,163,000 after acquiring an additional 5,949 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WSO shares. Robert W. Baird boosted their target price on shares of Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $433.71.

Watsco Stock Up 1.1 %

NYSE:WSO opened at $476.36 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.55. Watsco, Inc. has a 1-year low of $338.58 and a 1-year high of $520.41. The company has a 50-day moving average of $478.11 and a 200 day moving average of $457.73. The firm has a market cap of $19.22 billion, a PE ratio of 36.64 and a beta of 0.88.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $4.49 EPS 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 business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the firm posted $4.42 EPS. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, research analysts anticipate that Watsco, Inc. will post 13.83 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 2.27%. Watsco’s dividend payout ratio is currently 83.08%.

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.