Centaurus Financial Inc. Sells 248 Shares of Watsco, Inc. (NYSE:WSO)

Centaurus Financial Inc. lessened its stake in Watsco, Inc. (NYSE:WSO) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,295 shares of the construction company’s stock after selling 248 shares during the period. Centaurus Financial Inc.’s holdings in Watsco were worth $2,916,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its position in Watsco by 3.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,721 shares of the construction company’s stock valued at $737,000 after acquiring an additional 54 shares during the last quarter. TD Asset Management Inc increased its position in shares of Watsco by 157.4% during the 4th quarter. TD Asset Management Inc now owns 6,374 shares of the construction company’s stock valued at $2,731,000 after purchasing an additional 3,898 shares during the last quarter. Bank of Nova Scotia lifted its stake in shares of Watsco by 89.2% in the 4th quarter. Bank of Nova Scotia now owns 1,890 shares of the construction company’s stock worth $810,000 after purchasing an additional 891 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Watsco by 1.4% in the fourth quarter. California State Teachers Retirement System now owns 52,548 shares of the construction company’s stock worth $22,515,000 after buying an additional 712 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Watsco during the fourth quarter valued at approximately $471,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Price Performance

Shares of NYSE:WSO opened at $492.48 on Thursday. The company has a market capitalization of $19.85 billion, a P/E ratio of 37.88 and a beta of 0.88. Watsco, Inc. has a 1-year low of $338.58 and a 1-year high of $520.41. The firm’s 50 day simple moving average is $478.06 and its two-hundred day simple moving average is $466.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.55.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $4.49 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 the consensus estimate of $2.19 billion. Watsco had a net margin of 7.02% and a return on equity of 18.55%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.42 earnings per share. Research analysts expect that Watsco, Inc. will post 13.83 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th will be paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is 83.08%.

Analyst Upgrades and Downgrades

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

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.