Royal London Asset Management Ltd. Cuts Stake in Watsco, Inc. (NYSE:WSO)

Royal London Asset Management Ltd. reduced its holdings in shares of Watsco, Inc. (NYSE:WSO) by 57.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 14,385 shares of the construction company’s stock after selling 19,661 shares during the period. Royal London Asset Management Ltd.’s holdings in Watsco were worth $6,664,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC increased its stake in Watsco by 100.0% during the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after buying an additional 29 shares during the period. First PREMIER Bank purchased a new stake in Watsco during the 1st quarter worth approximately $25,000. ORG Partners LLC purchased a new stake in Watsco during the 1st quarter worth approximately $31,000. Tortoise Investment Management LLC increased its stake in Watsco by 76.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after buying an additional 32 shares during the period. Finally, Salomon & Ludwin LLC increased its stake in Watsco by 52.6% during the 1st quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock worth $38,000 after buying an additional 30 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Trading Up 1.1 %

Shares of NYSE:WSO opened at $476.36 on Friday. Watsco, Inc. has a 52 week low of $338.58 and a 52 week high of $520.41. The company’s 50 day moving average is $478.11 and its two-hundred day moving average is $457.73. The company has a current ratio of 3.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.01. The company has a market cap of $19.22 billion, a PE ratio of 36.64 and a beta of 0.88.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, July 30th. The construction company reported $4.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.70 by ($0.21). Watsco had a net margin of 7.02% and a return on equity of 18.55%. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the company posted $4.42 EPS. The company’s quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts predict that Watsco, Inc. will post 13.83 earnings per share for the current fiscal year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Tuesday, July 16th. Watsco’s payout ratio is 83.08%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WSO. JPMorgan Chase & Co. upped their target price on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird increased their price objective on shares of Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $433.71.

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.