Elevated Capital Advisors LLC Trims Position in Watsco, Inc. (NYSE:WSO)

Elevated Capital Advisors LLC cut its holdings in shares of Watsco, Inc. (NYSE:WSO) by 1.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,823 shares of the construction company’s stock after selling 27 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Watsco were worth $896,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of WSO. EntryPoint Capital LLC raised its position in Watsco by 100.0% during the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after buying an additional 29 shares during the last quarter. Quarry LP purchased a new position in Watsco during the 2nd quarter worth approximately $26,000. ORG Partners LLC purchased a new position in Watsco during the 1st quarter worth approximately $31,000. Tortoise Investment Management LLC raised its position in Watsco by 76.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after buying an additional 32 shares during the last quarter. Finally, Salomon & Ludwin LLC grew its stake in shares of Watsco by 52.6% during the 1st quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock worth $38,000 after purchasing an additional 30 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on WSO shares. Robert W. Baird raised their price objective on shares of Watsco from $522.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st.

Watsco Stock Down 1.5 %

NYSE WSO opened at $484.78 on Wednesday. Watsco, Inc. has a 52 week low of $338.58 and a 52 week high of $520.41. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $482.12 and its 200-day simple moving average is $473.33. The firm has a market cap of $19.54 billion, a PE ratio of 37.29 and a beta of 0.88.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $4.49 EPS for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.19 billion. Watsco had a return on equity of 18.55% and a net margin of 7.02%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.42 earnings per share. As a group, equities analysts anticipate that Watsco, Inc. will post 13.78 earnings per share for the current year.

Watsco Dividend Announcement

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 issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Wednesday, October 16th. Watsco’s dividend payout ratio is presently 83.08%.

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.