Natixis Advisors LLC Sells 17,808 Shares of Watsco, Inc. $WSO

Natixis Advisors LLC decreased its holdings in Watsco, Inc. (NYSE:WSO) by 22.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,684 shares of the construction company’s stock after selling 17,808 shares during the period. Natixis Advisors LLC owned about 0.15% of Watsco worth $25,343,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in Watsco during the 2nd quarter worth about $84,826,000. Corient Private Wealth LLC raised its holdings in shares of Watsco by 106.4% in the 2nd quarter. Corient Private Wealth LLC now owns 296,170 shares of the construction company’s stock valued at $130,801,000 after purchasing an additional 152,662 shares in the last quarter. Vantage Investment Partners LLC raised its holdings in shares of Watsco by 257.5% in the 3rd quarter. Vantage Investment Partners LLC now owns 97,730 shares of the construction company’s stock valued at $39,512,000 after purchasing an additional 70,394 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Watsco by 154.2% in the 2nd quarter. Jane Street Group LLC now owns 89,115 shares of the construction company’s stock worth $39,355,000 after purchasing an additional 54,053 shares during the period. Finally, Holocene Advisors LP lifted its position in shares of Watsco by 844.7% in the 2nd quarter. Holocene Advisors LP now owns 56,486 shares of the construction company’s stock worth $24,945,000 after purchasing an additional 50,507 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Down 3.7%

NYSE WSO opened at $379.47 on Wednesday. Watsco, Inc. has a 52 week low of $323.05 and a 52 week high of $521.70. The company has a 50 day moving average price of $392.02 and a 200 day moving average price of $377.04. The firm has a market cap of $15.39 billion, a PE ratio of 31.33 and a beta of 1.03.

Watsco (NYSE:WSO) last announced its earnings results on Tuesday, February 17th. The construction company reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.26). Watsco had a net margin of 6.87% and a return on equity of 15.49%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the business earned $2.37 earnings per share. Watsco’s revenue was down 9.9% on a year-over-year basis. On average, equities research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 16th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, January 16th. Watsco’s dividend payout ratio is currently 99.09%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WSO shares. UBS Group started coverage on shares of Watsco in a report on Monday, January 5th. They set a “neutral” rating and a $370.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on Watsco from $370.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Morgan Stanley dropped their target price on Watsco from $460.00 to $370.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 14th. Wolfe Research set a $349.00 price target on Watsco in a report on Tuesday, December 9th. Finally, KeyCorp reissued a “sector weight” rating on shares of Watsco in a research report on Friday, December 12th. One research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $409.00.

Watsco Company Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.