Checchi Capital Advisers LLC Sells 42 Shares of Watsco, Inc. $WSO

Checchi Capital Advisers LLC decreased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 5.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 693 shares of the construction company’s stock after selling 42 shares during the period. Checchi Capital Advisers LLC’s holdings in Watsco were worth $306,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of WSO. Centennial Wealth Advisory LLC raised its stake in Watsco by 2.9% in the first quarter. Centennial Wealth Advisory LLC now owns 776 shares of the construction company’s stock worth $395,000 after buying an additional 22 shares in the last quarter. Trust Co. of Vermont increased its holdings in shares of Watsco by 10.2% in the 2nd quarter. Trust Co. of Vermont now owns 238 shares of the construction company’s stock valued at $105,000 after acquiring an additional 22 shares during the period. Cary Street Partners Financial LLC lifted its stake in shares of Watsco by 2.2% during the 1st quarter. Cary Street Partners Financial LLC now owns 1,073 shares of the construction company’s stock worth $545,000 after purchasing an additional 23 shares during the last quarter. Freedom Investment Management Inc. boosted its position in Watsco by 4.8% during the first quarter. Freedom Investment Management Inc. now owns 504 shares of the construction company’s stock valued at $256,000 after purchasing an additional 23 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its position in Watsco by 2.3% during the first quarter. Valeo Financial Advisors LLC now owns 1,056 shares of the construction company’s stock valued at $537,000 after purchasing an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Watsco in a report on Saturday, September 27th. Morgan Stanley set a $505.00 price objective on shares of Watsco in a research report on Wednesday, July 2nd. Finally, UBS Group decreased their target price on shares of Watsco from $450.00 to $425.00 and set a “neutral” rating for the company in a research report on Tuesday, September 23rd. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $480.00.

Watsco Stock Down 0.9%

WSO stock opened at $411.29 on Tuesday. The stock has a market capitalization of $16.68 billion, a PE ratio of 31.54 and a beta of 0.94. Watsco, Inc. has a 52 week low of $378.35 and a 52 week high of $571.41. The firm has a 50 day moving average of $409.03 and a 200 day moving average of $447.91.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, July 30th. The construction company reported $4.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.32). Watsco had a net margin of 7.08% and a return on equity of 16.96%. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the company posted $4.49 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Thursday, October 16th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.9%. The ex-dividend date is Thursday, October 16th. Watsco’s payout ratio is presently 92.02%.

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.