CreativeOne Wealth LLC Sells 596 Shares of Watsco, Inc. $WSO

CreativeOne Wealth LLC cut its stake in shares of Watsco, Inc. (NYSE:WSO) by 18.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,561 shares of the construction company’s stock after selling 596 shares during the period. CreativeOne Wealth LLC’s holdings in Watsco were worth $1,131,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WPG Advisers LLC bought a new stake in Watsco during the 1st quarter worth approximately $25,000. Ameritas Advisory Services LLC purchased a new stake in shares of Watsco in the second quarter worth $26,000. TD Waterhouse Canada Inc. increased its stake in shares of Watsco by 242.9% in the second quarter. TD Waterhouse Canada Inc. now owns 72 shares of the construction company’s stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Chilton Capital Management LLC bought a new stake in shares of Watsco during the 2nd quarter valued at $34,000. Finally, Ransom Advisory Ltd bought a new stake in shares of Watsco during the 1st quarter valued at $45,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Trading Up 1.1%

Shares of Watsco stock opened at $346.17 on Friday. The stock has a 50 day moving average of $367.80 and a 200 day moving average of $413.81. Watsco, Inc. has a 12 month low of $323.05 and a 12 month high of $562.56. The firm has a market cap of $14.04 billion, a PE ratio of 27.04 and a beta of 0.93.

Watsco (NYSE:WSO) last released its quarterly earnings data on Friday, November 7th. The construction company reported $3.98 earnings per share (EPS) for the quarter. The business had revenue of $2.07 billion for the quarter. Watsco had a return on equity of 16.48% and a net margin of 7.04%. As a group, equities research analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Thursday, October 16th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Thursday, October 16th. This represents a $12.00 dividend on an annualized basis and a yield of 3.5%. Watsco’s dividend payout ratio is presently 93.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WSO shares. JPMorgan Chase & Co. cut their price target on Watsco from $400.00 to $360.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. William Blair reiterated a “market perform” rating on shares of Watsco in a research report on Wednesday, October 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Watsco in a research note on Thursday, October 30th. Mizuho dropped their price target on Watsco from $525.00 to $400.00 and set a “neutral” rating for the company in a research note on Friday, October 17th. Finally, UBS Group cut their price objective on shares of Watsco from $425.00 to $390.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $435.00.

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.