Watsco, Inc. $WSO Stock Position Trimmed by Amalgamated Bank

Amalgamated Bank cut its position in Watsco, Inc. (NYSE:WSO) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,061 shares of the construction company’s stock after selling 238 shares during the quarter. Amalgamated Bank’s holdings in Watsco were worth $7,093,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. WPG Advisers LLC bought a new stake in Watsco in the 1st quarter valued at about $25,000. Ameritas Advisory Services LLC bought a new stake in Watsco in the 2nd quarter valued at about $26,000. TCTC Holdings LLC lifted its position in Watsco by 115.4% in the 1st quarter. TCTC Holdings LLC now owns 56 shares of the construction company’s stock valued at $28,000 after purchasing an additional 30 shares during the last quarter. Rossby Financial LCC bought a new stake in Watsco in the 1st quarter valued at about $33,000. Finally, Chilton Capital Management LLC bought a new stake in Watsco in the 2nd quarter valued at about $34,000. 89.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WSO has been the topic of several recent research reports. Zacks Research downgraded shares of Watsco from a “hold” rating to a “strong sell” rating in a research report on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of Watsco from $400.00 to $360.00 and set a “neutral” rating on the stock in a research note on Thursday. Mizuho lowered their target price on shares of Watsco from $525.00 to $400.00 and set a “neutral” rating on the stock in a research note on Friday, October 17th. William Blair reissued a “market perform” rating on shares of Watsco in a research note on Wednesday, October 15th. Finally, Morgan Stanley lowered their target price on shares of Watsco from $505.00 to $460.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $440.83.

Watsco Price Performance

Shares of WSO opened at $367.16 on Friday. The firm’s 50 day moving average is $387.80 and its 200-day moving average is $431.12. The stock has a market capitalization of $14.89 billion, a P/E ratio of 28.68 and a beta of 0.94. Watsco, Inc. has a 12-month low of $350.00 and a 12-month high of $571.41.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, October 29th. The construction company reported $3.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.60 by ($0.62). The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.18 billion. Watsco had a return on equity of 16.48% and a net margin of 7.04%.The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.22 EPS. As a group, equities research analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Thursday, October 16th were paid a $3.00 dividend. The ex-dividend date of this dividend was Thursday, October 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.3%. Watsco’s payout ratio is currently 93.75%.

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.