Watsco, Inc. $WSO Shares Sold by Tudor Financial Inc.

Tudor Financial Inc. decreased its holdings in Watsco, Inc. (NYSE:WSO) by 58.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,195 shares of the construction company’s stock after selling 1,715 shares during the quarter. Tudor Financial Inc.’s holdings in Watsco were worth $498,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Concurrent Investment Advisors LLC grew its stake in shares of Watsco by 8.7% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 4,131 shares of the construction company’s stock worth $1,722,000 after purchasing an additional 329 shares during the period. iSAM Funds UK Ltd acquired a new stake in shares of Watsco in the second quarter valued at about $283,000. Continuum Advisory LLC acquired a new stake in shares of Watsco in the second quarter valued at about $111,000. Nykredit A S purchased a new stake in Watsco during the second quarter worth about $5,731,000. Finally, B. Metzler seel. Sohn & Co. AG boosted its holdings in Watsco by 10.3% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 812 shares of the construction company’s stock worth $338,000 after buying an additional 76 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. DA Davidson dropped their target price on shares of Watsco from $385.00 to $330.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Stephens reissued an “overweight” rating and set a $485.00 price target on shares of Watsco in a research note on Monday, August 17th. Weiss Ratings restated a “hold (c)” rating on shares of Watsco in a report on Friday, June 26th. Morgan Stanley raised their price objective on Watsco from $370.00 to $405.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. Finally, Robert W. Baird set a $400.00 price objective on Watsco in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Watsco currently has a consensus rating of “Hold” and an average price target of $395.50.

Watsco Trading Up 2.1%

NYSE:WSO opened at $315.54 on Friday. The company has a market capitalization of $13.02 billion, a P/E ratio of 27.37 and a beta of 1.05. The firm has a 50-day moving average price of $348.10 and a two-hundred day moving average price of $379.18. Watsco, Inc. has a twelve month low of $295.75 and a twelve month high of $459.00.

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, July 29th. The construction company reported $4.00 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.41). Watsco had a net margin of 6.53% and a return on equity of 14.40%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the company earned $4.52 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that Watsco, Inc. will post 12.21 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 16th were issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Thursday, July 16th. Watsco’s dividend payout ratio is 114.48%.

Watsco Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.