Watsco, Inc. (NYSE:WSO) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc trimmed its stake in shares of Watsco, Inc. (NYSE:WSO) by 0.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,507 shares of the construction company’s stock after selling 170 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Watsco were worth $10,426,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Thrivent Financial for Lutherans lifted its holdings in shares of Watsco by 6.6% during the second quarter. Thrivent Financial for Lutherans now owns 39,679 shares of the construction company’s stock worth $18,381,000 after purchasing an additional 2,458 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Watsco by 2.8% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 7,445 shares of the construction company’s stock worth $3,449,000 after acquiring an additional 200 shares during the period. King Luther Capital Management Corp boosted its holdings in shares of Watsco by 3.1% in the second quarter. King Luther Capital Management Corp now owns 106,447 shares of the construction company’s stock valued at $49,310,000 after acquiring an additional 3,236 shares in the last quarter. Bridges Investment Management Inc. acquired a new position in shares of Watsco during the second quarter worth about $874,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Watsco by 0.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 101,381 shares of the construction company’s stock worth $46,964,000 after acquiring an additional 379 shares during the period. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Price Performance

WSO stock opened at $494.64 on Wednesday. The firm has a 50 day moving average of $478.08 and a 200-day moving average of $463.35. The company has a market cap of $19.93 billion, a price-to-earnings ratio of 38.05 and a beta of 0.88. The company has a current ratio of 3.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 12-month low of $338.58 and a 12-month high of $520.41.

Watsco (NYSE:WSO) last issued its quarterly earnings data 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). The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.19 billion. Watsco had a return on equity of 18.55% and a net margin of 7.02%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.42 earnings per share. As a group, equities analysts expect that Watsco, Inc. will post 13.83 EPS for the current fiscal year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Tuesday, July 16th were given a $2.70 dividend. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $10.80 annualized dividend and a dividend yield of 2.18%. Watsco’s dividend payout ratio is presently 83.08%.

Wall Street Analyst Weigh In

WSO has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Robert W. Baird lifted their price target on Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $469.80.

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.