Captrust Financial Advisors Sells 919 Shares of Watsco, Inc. (NYSE:WSO)

Captrust Financial Advisors lessened its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,036 shares of the construction company's stock after selling 919 shares during the period. Captrust Financial Advisors owned 0.13% of Watsco worth $26,579,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Watsco in the second quarter valued at approximately $26,000. Tortoise Investment Management LLC boosted its position in shares of Watsco by 76.2% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company's stock valued at $34,000 after acquiring an additional 32 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Watsco in the third quarter valued at approximately $43,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company's stock valued at $46,000 after acquiring an additional 22 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of Watsco in the third quarter valued at approximately $48,000. Institutional investors and hedge funds own 89.71% of the company's stock.

Wall Street Analyst Weigh In

WSO has been the subject of several research reports. Robert W. Baird reduced their price objective on Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Northcoast Research initiated coverage on Watsco in a research report on Friday, November 22nd. They issued a "neutral" rating for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $491.25.

Watsco Trading Down 0.6 %

WSO stock traded down $3.07 during midday trading on Friday, hitting $551.60. The stock had a trading volume of 143,435 shares, compared to its average volume of 200,012. The firm has a market capitalization of $22.27 billion, a price-to-earnings ratio of 42.63 and a beta of 0.88. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41. The stock has a 50-day simple moving average of $506.47 and a 200 day simple moving average of $487.90.

Watsco (NYSE:WSO - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the business earned $4.35 earnings per share. On average, equities analysts forecast that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 1.96%. Watsco's payout ratio is presently 83.46%.

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.