Monarch Partners Asset Management LLC cut its position in Watsco, Inc. (NYSE:WSO) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,033 shares of the construction company’s stock after selling 900 shares during the period. Watsco makes up 1.3% of Monarch Partners Asset Management LLC’s investment portfolio, making the stock its 21st largest position. Monarch Partners Asset Management LLC’s holdings in Watsco were worth $12,804,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WSO. Flinton Capital Management LLC increased its position in Watsco by 9.1% in the first quarter. Flinton Capital Management LLC now owns 768 shares of the construction company’s stock worth $110,000 after buying an additional 64 shares during the period. Winslow Evans & Crocker Inc. increased its position in Watsco by 300.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 800 shares of the construction company’s stock worth $123,000 after buying an additional 600 shares during the period. Creative Planning increased its position in Watsco by 1.5% in the first quarter. Creative Planning now owns 979 shares of the construction company’s stock worth $140,000 after buying an additional 14 shares during the period. Public Employees Retirement Association of Colorado increased its position in Watsco by 15.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 952 shares of the construction company’s stock worth $147,000 after buying an additional 129 shares during the period. Finally, Meadow Creek Investment Management LLC increased its position in Watsco by 9.1% in the first quarter. Meadow Creek Investment Management LLC now owns 1,056 shares of the construction company’s stock worth $151,000 after buying an additional 88 shares during the period. 81.16% of the stock is currently owned by institutional investors and hedge funds.

Shares of Watsco, Inc. (WSO) opened at 147.71 on Friday. The company has a 50-day moving average of $151.96 and a 200-day moving average of $147.09. Watsco, Inc. has a one year low of $128.60 and a one year high of $159.55. The company has a market capitalization of $4.83 billion, a PE ratio of 27.31 and a beta of 0.83.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.05. Watsco had a net margin of 4.29% and a return on equity of 14.52%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the business earned $1.82 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. On average, analysts anticipate that Watsco, Inc. will post $5.78 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Monday, July 17th were paid a $1.25 dividend. This is a positive change from Watsco’s previous quarterly dividend of $1.05. This represents a $5.00 annualized dividend and a yield of 3.39%. The ex-dividend date was Thursday, July 13th. Watsco’s payout ratio is presently 93.11%.

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WSO has been the topic of a number of research reports. Stifel Nicolaus upped their price target on shares of Watsco from $152.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Seaport Global Securities raised shares of Watsco from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $160.00 in a research note on Wednesday, April 26th. Zacks Investment Research upgraded shares of Watsco from a “hold” rating to a “buy” rating and set a $173.00 price objective for the company in a report on Tuesday, June 27th. BidaskClub upgraded shares of Watsco from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Finally, Wolfe Research assumed coverage on shares of Watsco in a report on Tuesday, July 11th. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $163.20.

Watsco Company Profile

Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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