Atria Investments Inc Reduces Holdings in Watsco, Inc. (NYSE:WSO)

Atria Investments Inc decreased its position in shares of Watsco, Inc. (NYSE:WSO) by 3.7% during the third quarter, HoldingsChannel reports. The fund owned 8,612 shares of the construction company’s stock after selling 329 shares during the quarter. Atria Investments Inc’s holdings in Watsco were worth $4,236,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. grew its holdings in Watsco by 6.4% during the 3rd quarter. Assetmark Inc. now owns 612 shares of the construction company’s stock valued at $301,000 after purchasing an additional 37 shares during the last quarter. Markel Group Inc. raised its holdings in shares of Watsco by 2.0% in the third quarter. Markel Group Inc. now owns 582,500 shares of the construction company’s stock worth $286,520,000 after buying an additional 11,250 shares during the period. Equitable Trust Co. lifted its stake in shares of Watsco by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 1,166 shares of the construction company’s stock worth $574,000 after acquiring an additional 25 shares during the last quarter. Olympiad Research LP purchased a new position in Watsco during the 3rd quarter valued at $252,000. Finally, Marks Group Wealth Management Inc grew its position in Watsco by 2.7% in the 3rd quarter. Marks Group Wealth Management Inc now owns 18,168 shares of the construction company’s stock valued at $8,936,000 after acquiring an additional 473 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

WSO has been the subject of a number of recent analyst reports. Robert W. Baird lowered their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. 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.

Watsco Trading Down 0.7 %

Shares of Watsco stock opened at $533.36 on Wednesday. Watsco, Inc. has a 12 month low of $372.63 and a 12 month high of $540.23. The stock’s fifty day moving average price is $487.73 and its 200-day moving average price is $480.99. The firm has a market cap of $21.54 billion, a P/E ratio of 41.22 and a beta of 0.88.

Watsco (NYSE:WSO) last posted its earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the business posted $4.35 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Analysts forecast that Watsco, Inc. will post 13.2 earnings per share for the current year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a dividend of $2.70 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 2.02%. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

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.