Watsco, Inc. $WSO Shares Sold by Taylor Frigon Capital Management LLC

Taylor Frigon Capital Management LLC decreased its position in Watsco, Inc. (NYSE:WSO) by 3.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,811 shares of the construction company’s stock after selling 142 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in Watsco were worth $1,683,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of WSO. Manitou Investment Management Ltd. bought a new position in shares of Watsco during the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new stake in Watsco during the first quarter valued at approximately $25,000. WPG Advisers LLC bought a new stake in Watsco during the first quarter worth approximately $25,000. TCTC Holdings LLC grew its position in Watsco by 115.4% in the first quarter. TCTC Holdings LLC now owns 56 shares of the construction company’s stock worth $28,000 after buying an additional 30 shares during the last quarter. Finally, City Holding Co. bought a new position in shares of Watsco in the first quarter valued at $29,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Trading Up 1.1%

NYSE WSO opened at $398.08 on Monday. Watsco, Inc. has a 1-year low of $378.35 and a 1-year high of $571.41. The firm’s fifty day simple moving average is $417.95 and its 200-day simple moving average is $452.03. The company has a market capitalization of $16.14 billion, a PE ratio of 30.53 and a beta of 0.96.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, July 30th. The construction company reported $4.52 EPS for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.32). Watsco had a net margin of 7.08% and a return on equity of 16.96%. The firm had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter last year, the firm earned $4.49 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Wednesday, July 16th were issued a $3.00 dividend. The ex-dividend date was Wednesday, July 16th. This represents a $12.00 dividend on an annualized basis and a yield of 3.0%. Watsco’s dividend payout ratio is currently 92.02%.

Wall Street Analyst Weigh In

WSO has been the subject of several research reports. UBS Group reduced their price objective on Watsco from $450.00 to $425.00 and set a “neutral” rating for the company in a research note on Tuesday, September 23rd. Morgan Stanley set a $505.00 target price on Watsco in a report on Wednesday, July 2nd. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $480.00.

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.