K.J. Harrison & Partners Inc Sells 1,500 Shares of Watsco, Inc. $WSO

K.J. Harrison & Partners Inc trimmed its holdings in Watsco, Inc. (NYSE:WSO) by 15.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,060 shares of the construction company’s stock after selling 1,500 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Watsco were worth $3,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Trust Co. of Vermont increased its stake in shares of Watsco by 10.2% in the 2nd quarter. Trust Co. of Vermont now owns 238 shares of the construction company’s stock worth $105,000 after acquiring an additional 22 shares in the last quarter. Cary Street Partners Financial LLC increased its stake in shares of Watsco by 2.2% in the 1st quarter. Cary Street Partners Financial LLC now owns 1,073 shares of the construction company’s stock worth $545,000 after acquiring an additional 23 shares in the last quarter. Freedom Investment Management Inc. increased its stake in shares of Watsco by 4.8% in the 1st quarter. Freedom Investment Management Inc. now owns 504 shares of the construction company’s stock worth $256,000 after acquiring an additional 23 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Watsco by 2.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 1,056 shares of the construction company’s stock worth $537,000 after acquiring an additional 24 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of Watsco by 4.6% in the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the construction company’s stock worth $290,000 after acquiring an additional 25 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Up 2.5%

Shares of NYSE WSO opened at $367.16 on Monday. The firm’s 50-day moving average price is $387.80 and its 200-day moving average price is $430.09. The company has a market cap of $14.89 billion, a PE ratio of 28.68 and a beta of 0.94. Watsco, Inc. has a 52-week low of $350.00 and a 52-week high of $571.41.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Wednesday, October 29th. The construction company reported $3.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.60 by ($0.62). The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Watsco had a net margin of 7.04% and a return on equity of 16.48%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $4.22 EPS. As a group, equities research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Thursday, October 16th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Thursday, October 16th. Watsco’s dividend payout ratio (DPR) is presently 93.75%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Zacks Research lowered shares of Watsco from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. cut their price objective on shares of Watsco from $400.00 to $360.00 and set a “neutral” rating on the stock in a research report on Thursday. UBS Group cut their price objective on shares of Watsco from $450.00 to $425.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 23rd. Morgan Stanley cut their price objective on shares of Watsco from $505.00 to $460.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Finally, Mizuho cut their price objective on shares of Watsco from $525.00 to $400.00 and set a “neutral” rating on the stock in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $440.83.

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.