IFP Advisors Inc Sells 86 Shares of Watsco, Inc. $WSO

IFP Advisors Inc reduced its position in shares of Watsco, Inc. (NYSE:WSO) by 21.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 316 shares of the construction company’s stock after selling 86 shares during the quarter. IFP Advisors Inc’s holdings in Watsco were worth $140,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in WSO. WPG Advisers LLC bought a new stake in shares of Watsco in the first quarter worth about $25,000. TCTC Holdings LLC grew its position in shares of Watsco by 115.4% in the 1st quarter. TCTC Holdings LLC now owns 56 shares of the construction company’s stock worth $28,000 after buying an additional 30 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Watsco during the second quarter valued at approximately $26,000. Rossby Financial LCC bought a new position in shares of Watsco during the first quarter valued at approximately $33,000. Finally, Ransom Advisory Ltd purchased a new stake in Watsco in the first quarter worth $45,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Trading Up 0.6%

Shares of WSO opened at $371.41 on Friday. The company has a market cap of $15.06 billion, a price-to-earnings ratio of 28.48 and a beta of 0.94. The business’s fifty day simple moving average is $398.64 and its two-hundred day simple moving average is $439.75. Watsco, Inc. has a 12 month low of $350.00 and a 12 month high of $571.41.

Watsco (NYSE:WSO) last announced 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 business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the company earned $4.49 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, research analysts forecast that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Thursday, October 16th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Thursday, October 16th. Watsco’s dividend payout ratio (DPR) is presently 92.02%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Mizuho cut their target price on shares of Watsco from $525.00 to $400.00 and set a “neutral” rating on the stock in a research note on Friday. UBS Group cut their price objective on Watsco from $450.00 to $425.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 23rd. William Blair reissued a “market perform” rating on shares of Watsco in a research report on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of Watsco in a research report on Wednesday, October 8th. Finally, Morgan Stanley reduced their price target on Watsco from $505.00 to $460.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $447.50.

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.