Dearborn Partners LLC trimmed its position in shares of Watsco, Inc. (NYSE:WSO – Get Rating) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,952 shares of the construction company's stock after selling 737 shares during the period. Watsco makes up 1.7% of Dearborn Partners LLC's portfolio, making the stock its 20th biggest position. Dearborn Partners LLC owned 0.44% of Watsco worth $41,304,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. River Road Asset Management LLC acquired a new stake in Watsco during the 2nd quarter valued at $7,259,000. Access Financial Services Inc. acquired a new position in Watsco during the 2nd quarter worth $969,000. Commonwealth Equity Services LLC grew its holdings in Watsco by 3.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 10,687 shares of the construction company's stock worth $2,552,000 after acquiring an additional 329 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Watsco by 4.7% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 7,361 shares of the construction company's stock worth $1,758,000 after acquiring an additional 332 shares in the last quarter. Finally, Heritage Financial Services LLC acquired a new position in shares of Watsco in the 2nd quarter valued at about $25,000. 82.38% of the stock is owned by institutional investors and hedge funds.
Get Watsco alerts:Watsco Trading Down 1.9 %
Shares of Watsco stock traded down $5.02 during trading on Thursday, hitting $262.25. The stock had a trading volume of 5,918 shares, compared to its average volume of 224,319. The stock has a 50 day simple moving average of $277.04 and a 200 day simple moving average of $270.47. The company has a market capitalization of $10.22 billion, a PE ratio of 19.84 and a beta of 0.92. The company has a quick ratio of 1.08, a current ratio of 2.47 and a debt-to-equity ratio of 0.10. Watsco, Inc. has a 1 year low of $220.68 and a 1 year high of $318.98.
Watsco (NYSE:WSO – Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The construction company reported $4.93 EPS for the quarter, missing analysts' consensus estimates of $5.02 by ($0.09). Watsco had a net margin of 7.56% and a return on equity of 25.27%. The company had revenue of $2.13 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same period in the previous year, the firm posted $3.71 earnings per share. The business's revenue for the quarter was up 15.4% on a year-over-year basis. On average, research analysts expect that Watsco, Inc. will post 14.5 EPS for the current fiscal year.Watsco Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were given a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Thursday, July 14th. Watsco's payout ratio is presently 65.33%.
Analyst Upgrades and Downgrades
WSO has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Watsco in a research report on Wednesday, August 17th. They issued a "hold" rating and a $311.00 price objective on the stock. Stephens dropped their price target on shares of Watsco to $350.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 27th. Robert W. Baird raised shares of Watsco from a "neutral" rating to an "outperform" rating and lowered their price objective for the stock from $350.00 to $313.00 in a research note on Thursday, July 14th. Morgan Stanley lifted their price objective on shares of Watsco from $204.00 to $217.00 and gave the stock an "underweight" rating in a research note on Thursday, September 1st. Finally, KeyCorp lifted their price objective on shares of Watsco from $300.00 to $310.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $300.20.
About Watsco
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Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, refrigeration equipment, and related parts and supplies. The company distributes equipment comprising residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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