Watsco, Inc. (NYSE:WSO) Holdings Lowered by Boston Financial Mangement LLC

Boston Financial Mangement LLC cut its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 1.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 341,265 shares of the construction company's stock after selling 5,559 shares during the quarter. Watsco accounts for approximately 5.0% of Boston Financial Mangement LLC's investment portfolio, making the stock its largest position. Boston Financial Mangement LLC owned 0.85% of Watsco worth $167,861,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV boosted its stake in shares of 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 purchasing an additional 22 shares during the period. CWM LLC increased its holdings in Watsco by 2.6% during 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 raised its position in shares of Watsco by 27.8% in the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company's stock worth $57,000 after acquiring an additional 25 shares in the last quarter. Mather Group LLC. lifted its position in shares of Watsco by 10.2% during the second quarter. Mather Group LLC. now owns 293 shares of the construction company's stock valued at $127,000 after buying an additional 27 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its holdings in shares of Watsco by 100.0% in the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company's stock valued at $25,000 after buying an additional 29 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Performance

Shares of NYSE:WSO traded down $6.72 on Tuesday, hitting $473.20. 168,001 shares of the company were exchanged, compared to its average volume of 289,633. The company has a current ratio of 3.36, a quick ratio of 1.65 and a debt-to-equity ratio of 0.01. The stock's 50 day moving average price is $482.08 and its 200 day moving average price is $474.60. Watsco, Inc. has a 1-year low of $343.04 and a 1-year high of $520.41. The firm has a market capitalization of $19.07 billion, a P/E ratio of 36.91 and a beta of 0.88.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.24 billion. During the same quarter in the previous year, the firm posted $4.35 EPS. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. Sell-side analysts predict that Watsco, Inc. will post 13.43 EPS for the current year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be paid a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.28%. The ex-dividend date is Wednesday, October 16th. Watsco's payout ratio is 83.08%.

Analyst Ratings Changes

Several brokerages have weighed in on WSO. Robert W. Baird lowered their target price on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on Watsco from $420.00 to $425.00 and gave the company a "neutral" rating in a research report on Wednesday, July 31st.

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.