LGT Financial Advisors LLC Trims Stock Holdings in Watsco, Inc. (NYSE:WSO)

LGT Financial Advisors LLC decreased its position in shares of Watsco, Inc. (NYSE:WSO) by 28.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123 shares of the construction company’s stock after selling 50 shares during the quarter. LGT Financial Advisors LLC’s holdings in Watsco were worth $60,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC raised its stake in Watsco by 48,984.7% in the third quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock valued at $114,924,000 after buying an additional 233,167 shares during the last quarter. Motley Fool Asset Management LLC grew its position in shares of Watsco by 263.6% during the 1st quarter. Motley Fool Asset Management LLC now owns 320,008 shares of the construction company’s stock valued at $138,234,000 after acquiring an additional 231,987 shares during the period. Swedbank AB acquired a new position in Watsco during the first quarter worth $90,714,000. Vanguard Group Inc. increased its stake in Watsco by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock worth $1,473,836,000 after buying an additional 146,305 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Watsco by 225.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 38,830 shares of the construction company’s stock valued at $16,610,000 after purchasing an additional 26,911 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price 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 dropped their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th.

Watsco Stock Up 5.8 %

NYSE WSO opened at $516.34 on Thursday. Watsco, Inc. has a 52-week low of $362.26 and a 52-week high of $520.41. The stock has a market capitalization of $20.83 billion, a P/E ratio of 39.90 and a beta of 0.88. The firm has a 50-day moving average price of $481.85 and a 200 day moving average price of $477.52.

Watsco (NYSE:WSO) last issued its quarterly earnings data 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 net margin of 6.99% and a return on equity of 17.77%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the company posted $4.35 earnings per share. Watsco’s revenue was up 1.6% on a year-over-year basis. On average, equities research analysts expect that Watsco, Inc. will post 13.28 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were issued a $2.70 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 2.09%. Watsco’s payout ratio is 83.46%.

Watsco Company 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.