Watsco, Inc. (NYSE:WSO) Shares Sold by Virtu Financial LLC

Virtu Financial LLC trimmed its holdings in shares of Watsco, Inc. (NYSE:WSO) by 59.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 939 shares of the construction company’s stock after selling 1,350 shares during the quarter. Virtu Financial LLC’s holdings in Watsco were worth $462,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Quarry LP acquired a new position in shares of Watsco during the 2nd quarter worth approximately $26,000. Tortoise Investment Management LLC raised its stake in Watsco by 76.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after purchasing an additional 32 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Watsco in the 3rd quarter valued at $43,000. Massmutual Trust Co. FSB ADV raised its stake in Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after purchasing an additional 22 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in Watsco in the 3rd quarter valued at $48,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WSO has been the subject of several recent research reports. Northcoast Research initiated coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Robert W. Baird cut their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th.

Watsco Stock Down 0.3 %

Shares of WSO opened at $509.72 on Monday. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41. The company has a market capitalization of $20.58 billion, a PE ratio of 39.39 and a beta of 0.92. The stock has a fifty day simple moving average of $512.83 and a two-hundred day simple moving average of $491.04.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business earned $4.35 earnings per share. As a group, equities analysts anticipate that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio is presently 83.46%.

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.