Watsco, Inc. (WSO) Shares Sold by Redmond Asset Management LLC
Redmond Asset Management LLC trimmed its position in shares of Watsco, Inc. (NYSE:WSO) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,484 shares of the construction company’s stock after selling 365 shares during the quarter. Watsco makes up about 1.3% of Redmond Asset Management LLC’s investment portfolio, making the stock its 20th biggest position. Redmond Asset Management LLC’s holdings in Watsco were worth $2,816,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Winslow Evans & Crocker Inc. grew its stake in Watsco by 300.0% during 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 last quarter. San Francisco Sentry Investment Group CA acquired a new position in shares of Watsco during the second quarter worth approximately $125,000. Public Employees Retirement Association of Colorado lifted its position in shares of Watsco by 15.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 952 shares of the construction company’s stock worth $147,000 after purchasing an additional 129 shares in the last quarter. Creative Planning lifted its position in shares of Watsco by 6.1% during the second quarter. Creative Planning now owns 1,039 shares of the construction company’s stock worth $160,000 after purchasing an additional 60 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new position in shares of Watsco during the third quarter worth approximately $206,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Watsco, Inc. (NYSE WSO) traded up $0.45 during midday trading on Monday, reaching $165.05. 120,400 shares of the company traded hands, compared to its average volume of 279,263. Watsco, Inc. has a fifty-two week low of $134.08 and a fifty-two week high of $167.94. The firm has a market capitalization of $5,899.05, a price-to-earnings ratio of 30.74 and a beta of 0.83. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.13 and a quick ratio of 1.42.
Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.82 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.95 by ($0.13). Watsco had a net margin of 4.46% and a return on equity of 15.00%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the company earned $1.78 earnings per share. The company’s quarterly revenue was down .9% on a year-over-year basis. equities research analysts anticipate that Watsco, Inc. will post 5.59 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Monday, October 16th were issued a $1.25 dividend. The ex-dividend date was Friday, October 13th. This represents a $5.00 annualized dividend and a yield of 3.03%. Watsco’s dividend payout ratio is currently 92.42%.
A number of brokerages have recently issued reports on WSO. Zacks Investment Research lowered shares of Watsco from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub lowered shares of Watsco from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Robert W. Baird reiterated a “buy” rating and set a $163.00 target price on shares of Watsco in a research report on Friday, September 1st. Morgan Stanley reiterated an “underweight” rating and set a $141.00 target price (up from $139.00) on shares of Watsco in a research report on Wednesday, July 26th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $154.00 target price on shares of Watsco in a research report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $160.40.
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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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