Cetera Investment Advisers Sells 990 Shares of Watsco, Inc. (NYSE:WSO)

Cetera Investment Advisers lowered its stake in shares of Watsco, Inc. (NYSE:WSO) by 11.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,389 shares of the construction company’s stock after selling 990 shares during the quarter. Cetera Investment Advisers’ holdings in Watsco were worth $3,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its stake in Watsco by 50.9% in the first quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock valued at $80,188,000 after buying an additional 62,593 shares during the last quarter. American National Bank raised its stake in Watsco by 878.1% in the first quarter. American National Bank now owns 2,416 shares of the construction company’s stock valued at $1,044,000 after buying an additional 2,169 shares during the last quarter. Diversify Advisory Services LLC purchased a new stake in Watsco in the first quarter valued at about $822,000. EverSource Wealth Advisors LLC raised its stake in Watsco by 256.3% in the first quarter. EverSource Wealth Advisors LLC now owns 3,374 shares of the construction company’s stock valued at $1,510,000 after buying an additional 2,427 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Watsco in the first quarter valued at about $491,000. Institutional investors own 89.71% of the company’s stock.

Watsco Trading Down 3.3 %

Shares of NYSE:WSO opened at $484.04 on Friday. Watsco, Inc. has a 52-week low of $338.58 and a 52-week high of $520.41. The stock has a market cap of $19.51 billion, a price-to-earnings ratio of 37.23 and a beta of 0.88. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $477.76 and a 200-day moving average price of $469.28.

Watsco (NYSE:WSO) last announced 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 during the quarter, compared to analysts’ expectations of $2.19 billion. Watsco had a return on equity of 18.55% and a net margin of 7.02%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.42 earnings per share. Equities analysts predict that Watsco, Inc. will post 13.83 EPS for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Wednesday, October 16th. Watsco’s dividend payout ratio is currently 83.08%.

Analyst Ratings Changes

WSO has been the subject of a number of research analyst reports. Robert W. Baird increased 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. JPMorgan Chase & Co. raised their price objective on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st.

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.