Watsco, Inc. (NYSE:WSO) Shares Sold by Dearborn Partners LLC

Dearborn Partners LLC trimmed its position in Watsco, Inc. (NYSE:WSO - Free Report) by 4.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,575 shares of the construction company's stock after selling 4,092 shares during the period. Watsco comprises about 1.9% of Dearborn Partners LLC's investment portfolio, making the stock its 9th largest position. Dearborn Partners LLC owned about 0.24% of Watsco worth $47,011,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Massmutual Trust Co. FSB ADV grew its position in Watsco by 30.6% during 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. CWM LLC raised its holdings in Watsco by 2.6% in the third quarter. CWM LLC now owns 952 shares of the construction company's stock valued at $468,000 after buying an additional 24 shares during the period. MCF Advisors LLC grew its stake in Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company's stock worth $57,000 after buying an additional 25 shares during the period. Equitable Trust Co. grew its stake in Watsco by 2.2% during the third quarter. Equitable Trust Co. now owns 1,166 shares of the construction company's stock worth $574,000 after buying an additional 25 shares during the period. Finally, Mather Group LLC. increased its position in shares of Watsco by 10.2% in the second quarter. Mather Group LLC. now owns 293 shares of the construction company's stock worth $127,000 after acquiring an additional 27 shares in the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WSO has been the topic of several research reports. Robert W. Baird cut their price objective on Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. boosted their target price on shares of Watsco from $420.00 to $425.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st.

Watsco Stock Down 1.2 %

NYSE WSO traded down $6.07 on Friday, hitting $519.72. The stock had a trading volume of 78,877 shares, compared to its average volume of 283,707. Watsco, Inc. has a one year low of $373.33 and a one year high of $545.49. The stock has a market cap of $20.99 billion, a price-to-earnings ratio of 40.12 and a beta of 0.88. The company's 50-day moving average is $491.03 and its two-hundred day moving average is $481.73.

Watsco (NYSE:WSO - Get Free Report) last released 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 business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm's revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $4.35 earnings per share. On average, sell-side analysts anticipate that Watsco, Inc. will post 13.2 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco's dividend payout ratio (DPR) is 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.