Watsco, Inc. (NYSE:WSO) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Watsco, Inc. (NYSE:WSO - Free Report) by 12.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,860 shares of the construction company's stock after selling 17,007 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.29% of Watsco worth $58,465,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Quarry LP bought a new stake in shares of Watsco in the 2nd quarter worth approximately $26,000. Tortoise Investment Management LLC raised its position in shares of Watsco by 76.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company's stock valued at $34,000 after buying an additional 32 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Watsco in the third quarter worth approximately $43,000. Massmutual Trust Co. FSB ADV boosted 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 buying an additional 22 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of Watsco in the third quarter worth approximately $48,000. Institutional investors own 89.71% of the company's stock.

Watsco Trading Down 1.1 %

Shares of WSO traded down $5.87 during midday trading on Wednesday, reaching $537.12. 78,284 shares of the stock were exchanged, compared to its average volume of 279,497. The company has a market capitalization of $21.69 billion, a P/E ratio of 41.98 and a beta of 0.92. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41. The company's 50 day moving average is $508.38 and its two-hundred day moving average is $488.93.

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 analysts' consensus estimates of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the firm earned $4.35 EPS. The company's revenue for the quarter was up 1.6% compared to the same quarter last year. On average, sell-side analysts expect that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.01%. The ex-dividend date was Wednesday, October 16th. Watsco's payout ratio is currently 83.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on WSO shares. Northcoast Research initiated coverage on shares of Watsco in a research note on Friday, November 22nd. They issued a "neutral" rating for the company. 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 note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Watsco currently has a consensus rating of "Moderate Buy" and an average target price of $491.25.

Watsco 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.