Watsco, Inc. $WSO Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC decreased its stake in shares of Watsco, Inc. (NYSE:WSO) by 9.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,380 shares of the construction company’s stock after selling 370 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Watsco were worth $1,493,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WSO. First Citizens Bank & Trust Co. increased its position in Watsco by 34.4% during the first quarter. First Citizens Bank & Trust Co. now owns 906 shares of the construction company’s stock worth $461,000 after purchasing an additional 232 shares during the last quarter. City Holding Co. purchased a new stake in Watsco during the first quarter worth approximately $29,000. Farther Finance Advisors LLC grew its stake in Watsco by 7.9% during the first quarter. Farther Finance Advisors LLC now owns 1,605 shares of the construction company’s stock worth $821,000 after buying an additional 117 shares during the period. GAMMA Investing LLC grew its stake in Watsco by 76.0% during the first quarter. GAMMA Investing LLC now owns 940 shares of the construction company’s stock worth $478,000 after buying an additional 406 shares during the period. Finally, SG Americas Securities LLC grew its stake in Watsco by 133.1% during the first quarter. SG Americas Securities LLC now owns 844 shares of the construction company’s stock worth $429,000 after buying an additional 482 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Watsco in a research note on Wednesday. Morgan Stanley decreased their price objective on shares of Watsco from $505.00 to $460.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, UBS Group decreased their price objective on shares of Watsco from $450.00 to $425.00 and set a “neutral” rating for the company in a research note on Tuesday, September 23rd. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Watsco has a consensus rating of “Hold” and a consensus price target of $472.50.

Watsco Trading Up 0.0%

Shares of WSO stock opened at $396.53 on Thursday. The company has a market capitalization of $16.08 billion, a PE ratio of 30.41 and a beta of 0.94. The firm has a fifty day simple moving average of $406.73 and a 200-day simple moving average of $447.20. Watsco, Inc. has a twelve month low of $378.35 and a twelve month high of $571.41.

Watsco (NYSE:WSO) last announced its earnings results on Wednesday, July 30th. The construction company reported $4.52 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.32). The firm had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a net margin of 7.08% and a return on equity of 16.96%. Watsco’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $4.49 earnings per share. Equities research analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Thursday, October 16th will be paid a $3.00 dividend. The ex-dividend date is Thursday, October 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.0%. Watsco’s dividend payout ratio is 92.02%.

Watsco Company 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.