Watsco, Inc. (NYSE:WSO) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lessened its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 9.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 110,903 shares of the construction company's stock after selling 11,855 shares during the period. TimesSquare Capital Management LLC owned 0.27% of Watsco worth $54,551,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of WSO. Duality Advisers LP acquired a new stake in Watsco in the first quarter valued at about $489,000. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Watsco by 3.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,991 shares of the construction company's stock worth $2,156,000 after acquiring an additional 165 shares during the period. SG Americas Securities LLC increased its stake in Watsco by 39.8% in the 1st quarter. SG Americas Securities LLC now owns 2,451 shares of the construction company's stock valued at $1,059,000 after purchasing an additional 698 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in Watsco by 0.4% during the first quarter. Oppenheimer & Co. Inc. now owns 7,946 shares of the construction company's stock worth $3,432,000 after purchasing an additional 33 shares during the last quarter. Finally, Concurrent Investment Advisors LLC boosted its position in Watsco by 6.4% during the first quarter. Concurrent Investment Advisors LLC now owns 3,266 shares of the construction company's stock worth $1,411,000 after purchasing an additional 197 shares in the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Stock Up 0.7 %

Shares of WSO traded up $3.53 during trading hours on Friday, reaching $528.50. 216,117 shares of the company traded hands, compared to its average volume of 228,336. The stock has a fifty day simple moving average of $484.96 and a 200 day simple moving average of $479.42. Watsco, Inc. has a fifty-two week low of $368.77 and a fifty-two week high of $533.53. The stock has a market capitalization of $21.34 billion, a PE ratio of 40.84 and a beta of 0.88.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.73 by ($0.51). The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business's quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $4.35 EPS. Research analysts predict that Watsco, Inc. will post 13.2 EPS for the current fiscal year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Wednesday, October 16th. Watsco's dividend payout ratio (DPR) is 83.46%.

Analysts Set New Price Targets

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

About Watsco

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.