Watsco, Inc. (NYSE:WSO) Shares Sold by Inspire Investing LLC

Inspire Investing LLC cut its holdings in shares of Watsco, Inc. (NYSE:WSO) by 33.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,242 shares of the construction company’s stock after selling 2,123 shares during the period. Inspire Investing LLC’s holdings in Watsco were worth $2,087,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in WSO. Jennison Associates LLC boosted its position in Watsco by 50.9% during the 1st quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock worth $80,188,000 after acquiring an additional 62,593 shares during the period. American National Bank grew its position in Watsco by 878.1% in the 1st quarter. American National Bank now owns 2,416 shares of the construction company’s stock valued at $1,044,000 after buying an additional 2,169 shares in the last quarter. Diversify Advisory Services LLC acquired a new position in Watsco during the 1st quarter valued at about $822,000. EverSource Wealth Advisors LLC raised its position in shares of Watsco by 256.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,374 shares of the construction company’s stock worth $1,510,000 after buying an additional 2,427 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Watsco during the 1st quarter worth about $491,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Stock Up 1.5 %

NYSE WSO opened at $491.58 on Monday. Watsco, Inc. has a 12 month low of $338.58 and a 12 month high of $520.41. The company has a market capitalization of $19.81 billion, a P/E ratio of 37.81 and a beta of 0.88. The company’s 50 day simple moving average is $478.24 and its 200 day simple moving average is $470.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.55.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $4.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.70 by ($0.21). The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.19 billion. Watsco had a net margin of 7.02% and a return on equity of 18.55%. Watsco’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $4.42 EPS. Equities research analysts expect that Watsco, Inc. will post 13.83 earnings per share for the current fiscal year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be given a $2.70 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.20%. Watsco’s dividend payout ratio (DPR) is 83.08%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Robert W. Baird raised their price objective on shares of Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st.

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.