Oppenheimer & Co. Inc. Sells 202 Shares of Watsco, Inc. (NYSE:WSO)

Oppenheimer & Co. Inc. decreased its position in Watsco, Inc. (NYSE:WSO) by 2.3% during the third quarter, HoldingsChannel reports. The firm owned 8,498 shares of the construction company’s stock after selling 202 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Watsco were worth $4,180,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. EntryPoint Capital LLC increased its position in Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after acquiring an additional 29 shares during the period. Quarry LP bought a new position in Watsco during the second quarter worth $26,000. Tortoise Investment Management LLC increased its position in Watsco by 76.2% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after acquiring an additional 32 shares during the period. Ashton Thomas Securities LLC bought a new position in Watsco during the third quarter worth $43,000. Finally, Massmutual Trust Co. FSB ADV increased 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 worth $46,000 after acquiring an additional 22 shares during the period. Institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

WSO opened at $520.74 on Friday. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $545.49. The firm’s fifty day moving average price is $492.47 and its two-hundred day moving average price is $482.23. The company has a market capitalization of $21.03 billion, a P/E ratio of 40.24 and a beta of 0.88.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share 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 business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the firm earned $4.35 EPS. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. On average, equities research analysts expect that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a $2.70 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 annualized dividend and a dividend yield of 2.07%. Watsco’s dividend payout ratio is presently 83.46%.

Wall Street Analysts Forecast Growth

WSO has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Robert W. Baird dropped their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th.

Watsco Company 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.