Apollon Wealth Management LLC Sells 51 Shares of Watsco, Inc. (NYSE:WSO)

Apollon Wealth Management LLC cut its position in shares of Watsco, Inc. (NYSE:WSO) by 7.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 658 shares of the construction company’s stock after selling 51 shares during the period. Apollon Wealth Management LLC’s holdings in Watsco were worth $323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV raised its position in Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after purchasing an additional 22 shares during the period. CWM LLC raised its position in Watsco by 2.6% during the third quarter. CWM LLC now owns 952 shares of the construction company’s stock valued at $468,000 after purchasing an additional 24 shares during the period. MCF Advisors LLC raised its position in Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after purchasing an additional 25 shares during the period. Equitable Trust Co. raised its position in Watsco by 2.2% during the third quarter. Equitable Trust Co. now owns 1,166 shares of the construction company’s stock valued at $574,000 after purchasing an additional 25 shares during the period. Finally, Mather Group LLC. raised its position in Watsco by 10.2% during the second quarter. Mather Group LLC. now owns 293 shares of the construction company’s stock valued at $127,000 after purchasing an additional 27 shares during the period. 89.71% of the stock is owned by institutional investors.

Watsco Stock Down 1.0 %

WSO opened at $520.74 on Monday. The stock’s fifty day moving average is $492.47 and its two-hundred day moving average is $482.70. The company has a market capitalization of $21.03 billion, a P/E ratio of 40.24 and a beta of 0.88. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $545.49.

Watsco (NYSE:WSO) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.35 earnings per share. Equities analysts anticipate that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 2.07%. Watsco’s payout ratio is currently 83.46%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WSO shares. JPMorgan Chase & Co. increased their price target on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Robert W. Baird reduced their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th.

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.