WASHINGTON TRUST Co Sells 2,078 Shares of Watsco, Inc. (NYSE:WSO)

WASHINGTON TRUST Co lessened its position in Watsco, Inc. (NYSE:WSO) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,966 shares of the construction company’s stock after selling 2,078 shares during the period. WASHINGTON TRUST Co’s holdings in Watsco were worth $20,150,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of WSO. Jennison Associates LLC raised its holdings in Watsco by 50.9% in the 1st quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock valued at $80,188,000 after acquiring an additional 62,593 shares during the period. Diversify Advisory Services LLC acquired a new stake in shares of Watsco during the first quarter worth $822,000. EverSource Wealth Advisors LLC boosted its position in shares of Watsco by 256.3% in the first quarter. EverSource Wealth Advisors LLC now owns 3,374 shares of the construction company’s stock valued at $1,510,000 after acquiring an additional 2,427 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Watsco in the first quarter valued at about $491,000. Finally, Nordea Investment Management AB increased its position in Watsco by 22.3% during the first quarter. Nordea Investment Management AB now owns 135,621 shares of the construction company’s stock worth $59,020,000 after acquiring an additional 24,696 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

WSO stock traded up $3.19 during midday trading on Wednesday, reaching $476.66. The company had a trading volume of 30,741 shares, compared to its average volume of 288,380. Watsco, Inc. has a 1-year low of $344.82 and a 1-year high of $520.41. The stock has a 50 day moving average price of $482.11 and a 200-day moving average price of $474.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.36 and a quick ratio of 1.65. The company has a market capitalization of $19.21 billion, a price-to-earnings ratio of 36.40 and a beta of 0.88.

Watsco (NYSE:WSO) last released 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 the consensus estimate of $2.24 billion. During the same period in the prior year, the business earned $4.35 earnings per share. Watsco’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities research analysts expect that Watsco, Inc. will post 13.43 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be given a dividend of $2.70 per share. The ex-dividend date is Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 2.27%. Watsco’s dividend payout ratio is currently 83.08%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WSO. Robert W. Baird cut their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st.

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.