Arete Wealth Advisors LLC Trims Stock Position in Watsco, Inc. (NYSE:WSO)

Arete Wealth Advisors LLC cut its holdings in Watsco, Inc. (NYSE:WSO) by 8.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 812 shares of the construction company’s stock after selling 75 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Watsco were worth $397,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WSO. Sequoia Financial Advisors LLC grew its position in shares of Watsco by 14.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 548 shares of the construction company’s stock worth $254,000 after buying an additional 70 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Watsco by 24.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 664 shares of the construction company’s stock worth $308,000 after buying an additional 131 shares during the period. Blue Trust Inc. grew its position in shares of Watsco by 86.4% in the 2nd quarter. Blue Trust Inc. now owns 220 shares of the construction company’s stock worth $95,000 after buying an additional 102 shares during the period. Gradient Investments LLC purchased a new stake in shares of Watsco in the 2nd quarter worth about $108,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Watsco by 16.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 18,540 shares of the construction company’s stock worth $8,588,000 after buying an additional 2,595 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Performance

Shares of WSO stock opened at $509.78 on Friday. Watsco, Inc. has a one year low of $373.33 and a one year high of $571.41. The company’s 50-day moving average is $512.83 and its 200 day moving average is $490.84. The company has a market capitalization of $20.58 billion, a price-to-earnings ratio of 39.40 and a beta of 0.92.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the company posted $4.35 earnings per share. As a group, research analysts predict that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were paid a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.12%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio is currently 83.46%.

Wall Street Analyst Weigh In

WSO has been the topic of a number of recent research reports. Northcoast Research initiated coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Robert W. Baird cut their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research 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.