Atria Investments Inc Trims Stake in Watsco, Inc. (NYSE:WSO)

Atria Investments Inc lowered its position in shares of Watsco, Inc. (NYSE:WSO) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,612 shares of the construction company’s stock after selling 329 shares during the quarter. Atria Investments Inc’s holdings in Watsco were worth $4,236,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. SG Americas Securities LLC increased its position in Watsco by 39.8% during the 1st quarter. SG Americas Securities LLC now owns 2,451 shares of the construction company’s stock valued at $1,059,000 after buying an additional 698 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Watsco by 1.9% in the 1st quarter. Russell Investments Group Ltd. now owns 16,773 shares of the construction company’s stock worth $7,246,000 after acquiring an additional 320 shares during the last quarter. William Blair Investment Management LLC boosted its stake in Watsco by 6.2% during the 1st quarter. William Blair Investment Management LLC now owns 66,966 shares of the construction company’s stock valued at $28,927,000 after purchasing an additional 3,881 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Watsco in the 1st quarter worth $527,000. Finally, Koshinski Asset Management Inc. bought a new position in shares of Watsco during the first quarter valued at $230,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Trading Down 0.7 %

WSO opened at $533.36 on Wednesday. Watsco, Inc. has a 12-month low of $372.63 and a 12-month high of $540.23. The company has a market cap of $21.54 billion, a price-to-earnings ratio of 41.22 and a beta of 0.88. The company’s 50 day moving average is $487.73 and its 200 day moving average is $480.99.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $4.35 EPS. As a group, analysts predict that Watsco, Inc. will post 13.2 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.02%. Watsco’s payout ratio is currently 83.46%.

Wall Street Analyst Weigh In

WSO has been the topic of several research analyst reports. Robert W. Baird lowered their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st.

Watsco 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.