Watsco, Inc. (WSO) Shares Sold by Donaldson Capital Management LLC
Donaldson Capital Management LLC cut its position in shares of Watsco, Inc. (NYSE:WSO) by 44.5% during the second quarter, Holdings Channel reports. The institutional investor owned 2,275 shares of the construction company’s stock after selling 1,825 shares during the period. Donaldson Capital Management LLC’s holdings in Watsco were worth $351,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in WSO. Bank of Nova Scotia acquired a new position in Watsco during the first quarter worth about $450,000. Flinton Capital Management LLC boosted 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 in the last quarter. Winslow Evans & Crocker Inc. boosted 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 in the last quarter. Public Employees Retirement Association of Colorado boosted 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 in the last quarter. Finally, Creative Planning boosted 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 in the last quarter. 79.58% of the stock is owned by institutional investors and hedge funds.
Shares of Watsco, Inc. (NYSE WSO) opened at 148.72 on Tuesday. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 27.50 and a beta of 0.83. Watsco, Inc. has a 12 month low of $128.60 and a 12 month high of $159.55. The company has a 50-day moving average price of $151.54 and a 200-day moving average price of $146.91.
Watsco (NYSE:WSO) last posted its earnings results on Tuesday, July 25th. The construction company reported $2.07 EPS for the quarter, beating the consensus estimate of $2.02 by $0.05. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the company earned $1.82 earnings per share. Equities analysts forecast that Watsco, Inc. will post $5.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Monday, July 17th were given a $1.25 dividend. The ex-dividend date was Thursday, July 13th. This is an increase from Watsco’s previous quarterly dividend of $1.05. This represents a $5.00 annualized dividend and a yield of 3.36%. Watsco’s dividend payout ratio (DPR) is currently 93.11%.
A number of research firms recently issued reports on WSO. Zacks Investment Research cut Watsco from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub lowered Watsco from a “buy” rating to a “hold” rating in a research report on Monday. Wolfe Research started coverage on Watsco in a research report on Tuesday, July 11th. They issued a “market perform” rating for the company. Morgan Stanley reiterated an “underweight” rating and issued a $141.00 price objective (up from $139.00) on shares of Watsco in a research report on Wednesday, July 26th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $176.00 price objective (up from $163.00) on shares of Watsco in a research report on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $163.20.
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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