Freedom Investment Management Inc. Sells 25 Shares of Watsco, Inc. (NYSE:WSO)

Freedom Investment Management Inc. lowered its stake in Watsco, Inc. (NYSE:WSO) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 537 shares of the construction company’s stock after selling 25 shares during the period. Freedom Investment Management Inc.’s holdings in Watsco were worth $264,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. J. W. Coons Advisors LLC boosted its holdings in shares of Watsco by 0.7% in the 3rd quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock worth $1,475,000 after purchasing an additional 20 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after buying an additional 22 shares during the last quarter. CWM LLC boosted its stake in Watsco by 2.6% during the third quarter. CWM LLC now owns 952 shares of the construction company’s stock worth $468,000 after buying an additional 24 shares during the period. MCF Advisors LLC raised its stake in shares of Watsco by 27.8% in the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after acquiring an additional 25 shares during the period. Finally, Equitable Trust Co. lifted its stake in Watsco by 2.2% in the third quarter. Equitable Trust Co. now owns 1,166 shares of the construction company’s stock worth $574,000 after purchasing an additional 25 shares during the last quarter. 89.71% of the stock is owned by institutional investors.

Watsco Stock Performance

Shares of WSO opened at $551.60 on Monday. The company has a 50 day moving average price of $506.47 and a 200-day moving average price of $487.92. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The stock has a market capitalization of $22.27 billion, a PE ratio of 42.63 and a beta of 0.88.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm earned $4.35 EPS. Equities research analysts forecast that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is currently 83.46%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WSO shares. Robert W. Baird reduced their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Northcoast Research began coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Watsco has an average rating of “Moderate Buy” and an average price target of $491.25.

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.