Watsco, Inc. (NYSE:WSO) Shares Sold by International Private Wealth Advisors LLC

International Private Wealth Advisors LLC trimmed its stake in shares of Watsco, Inc. (NYSE:WSO) by 4.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Metis Global Partners LLC acquired a new stake in shares of Watsco during the third quarter worth $212,000. Curi RMB Capital LLC lifted its holdings in shares of Watsco by 2.4% during the third quarter. Curi RMB Capital LLC now owns 78,604 shares of the construction company’s stock worth $38,664,000 after purchasing an additional 1,810 shares during the period. Freemont Management S.A. acquired a new stake in shares of Watsco during the third quarter worth $1,476,000. Saturna Capital Corp lifted its holdings in shares of Watsco by 3.1% during the third quarter. Saturna Capital Corp now owns 2,979 shares of the construction company’s stock worth $1,465,000 after purchasing an additional 89 shares during the period. Finally, MQS Management LLC acquired a new stake in shares of Watsco during the third quarter worth $344,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on WSO shares. Robert W. Baird decreased 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. raised their target price on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st.

Watsco Stock Performance

Watsco stock traded down $13.38 during midday trading on Thursday, reaching $529.68. The company’s stock had a trading volume of 36,841 shares, compared to its average volume of 283,549. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $545.49. The firm has a market capitalization of $21.39 billion, a PE ratio of 41.97 and a beta of 0.88. The stock’s 50 day simple moving average is $489.51 and its 200 day simple moving average is $481.42.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the business earned $4.35 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities analysts predict that Watsco, Inc. will post 13.2 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio is currently 83.46%.

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.