Diversify Advisory Services LLC Reduces Holdings in Watsco, Inc. (NYSE:WSO)

Diversify Advisory Services LLC reduced its position in Watsco, Inc. (NYSE:WSO) by 27.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 494 shares of the construction company’s stock after selling 184 shares during the period. Diversify Advisory Services LLC’s holdings in Watsco were worth $239,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WSO. abrdn plc boosted its stake in Watsco by 1.2% during the 3rd quarter. abrdn plc now owns 14,996 shares of the construction company’s stock worth $7,378,000 after purchasing an additional 172 shares during the period. Hunter Associates Investment Management LLC boosted its stake in shares of Watsco by 1.8% during the third quarter. Hunter Associates Investment Management LLC now owns 6,555 shares of the construction company’s stock worth $3,223,000 after buying an additional 115 shares during the period. Autumn Glory Partners LLC grew its holdings in shares of Watsco by 149.8% during the third quarter. Autumn Glory Partners LLC now owns 1,369 shares of the construction company’s stock worth $679,000 after buying an additional 821 shares during the last quarter. Semanteon Capital Management LP increased its position in Watsco by 202.4% in the 3rd quarter. Semanteon Capital Management LP now owns 2,313 shares of the construction company’s stock valued at $1,138,000 after acquiring an additional 1,548 shares during the period. Finally, State of Alaska Department of Revenue increased its position in Watsco by 16.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 4,037 shares of the construction company’s stock valued at $1,985,000 after acquiring an additional 560 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WSO. Robert W. Baird lowered their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their price objective 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.

Watsco Stock Performance

Shares of WSO opened at $474.05 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.65 and a current ratio of 3.36. The firm has a fifty day moving average of $481.62 and a 200-day moving average of $475.41. The company has a market cap of $19.12 billion, a price-to-earnings ratio of 36.63 and a beta of 0.88. Watsco, Inc. has a 1 year low of $359.59 and a 1 year high of $520.41.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (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 for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the business posted $4.35 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that Watsco, Inc. will post 13.43 earnings per share for the current year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio is presently 83.46%.

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.