Northwest & Ethical Investments L.P. Sells 5,788 Shares of Watsco, Inc. (NYSE:WSO)

Northwest & Ethical Investments L.P. trimmed its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 42.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,872 shares of the construction company's stock after selling 5,788 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Watsco were worth $3,872,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of WSO. FMR LLC grew its holdings in Watsco by 10.6% during the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock worth $1,782,651,000 after acquiring an additional 346,470 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Watsco by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company's stock worth $616,357,000 after acquiring an additional 62,041 shares during the period. Blair William & Co. IL grew its holdings in Watsco by 1.2% during the 2nd quarter. Blair William & Co. IL now owns 801,152 shares of the construction company's stock worth $371,126,000 after acquiring an additional 9,141 shares during the period. Markel Group Inc. grew its holdings in Watsco by 2.0% during the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company's stock worth $286,520,000 after acquiring an additional 11,250 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Watsco by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 393,032 shares of the construction company's stock worth $182,068,000 after acquiring an additional 6,320 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on WSO shares. Northcoast Research started coverage on Watsco in a report on Friday, November 22nd. They set a "neutral" rating for the company. Robert W. Baird decreased their price target on Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $491.25.

Watsco Price Performance

Shares of WSO traded down $3.07 during trading hours on Friday, hitting $551.60. The stock had a trading volume of 143,431 shares, compared to its average volume of 281,259. The firm has a 50 day simple moving average of $505.23 and a 200-day simple moving average of $487.40. The firm has a market capitalization of $22.27 billion, a P/E ratio of 43.18 and a beta of 0.88. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41.

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). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the business earned $4.35 earnings per share. The business's quarterly revenue was up 1.6% on a year-over-year basis. Equities analysts predict that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were given a $2.70 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 1.96%. Watsco's payout ratio is 83.46%.

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.