Centennial Bank AR Has $1.27 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

Centennial Bank AR cut its stake in Watsco, Inc. (NYSE:WSO) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,575 shares of the construction company’s stock after selling 52 shares during the period. Centennial Bank AR’s holdings in Watsco were worth $1,267,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in WSO. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Watsco by 1.2% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 71,298 shares of the construction company’s stock worth $30,799,000 after buying an additional 818 shares during the last quarter. Van ECK Associates Corp raised its holdings in Watsco by 6.9% during the 1st quarter. Van ECK Associates Corp now owns 5,937 shares of the construction company’s stock worth $2,565,000 after purchasing an additional 382 shares during the last quarter. Norden Group LLC lifted its position in Watsco by 22.0% during the 1st quarter. Norden Group LLC now owns 1,829 shares of the construction company’s stock valued at $790,000 after purchasing an additional 330 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Watsco during the 1st quarter worth approximately $206,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Watsco during the 1st quarter worth approximately $5,370,000. Institutional investors own 89.71% of the company’s stock.

Watsco Trading Up 0.2 %

WSO opened at $474.00 on Monday. Watsco, Inc. has a twelve month low of $359.59 and a twelve month high of $520.41. The firm has a market cap of $19.12 billion, a PE ratio of 36.63 and a beta of 0.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.65 and a current ratio of 3.36. The firm’s fifty day moving average is $481.62 and its two-hundred day moving average is $475.84.

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the business earned $4.35 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that Watsco, Inc. will post 13.28 EPS for the current year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio is 83.46%.

Analysts Set New Price Targets

Several analysts have commented on the stock. JPMorgan Chase & Co. upped their target price 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. Robert W. Baird dropped their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th.

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.