MML Investors Services LLC Trims Stake in Watsco, Inc. (NYSE:WSO)

MML Investors Services LLC lowered its holdings in Watsco, Inc. (NYSE:WSO) by 1.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,917 shares of the construction company’s stock after selling 45 shares during the quarter. MML Investors Services LLC’s holdings in Watsco were worth $1,435,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Watsco in the second quarter valued at $26,000. Tortoise Investment Management LLC grew its stake in shares of Watsco by 76.2% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after buying an additional 32 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Watsco in the third quarter valued at $43,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after buying an additional 22 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Watsco in the third quarter valued at $48,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Northcoast Research assumed coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Robert W. Baird dropped their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th.

Watsco Price Performance

WSO opened at $487.89 on Thursday. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $571.41. The stock has a market capitalization of $19.70 billion, a price-to-earnings ratio of 37.70 and a beta of 0.92. The business has a fifty day moving average price of $513.30 and a 200 day moving average price of $491.49.

Watsco (NYSE:WSO) last released its earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the firm earned $4.35 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, research analysts anticipate that Watsco, Inc. will post 13.06 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. Investors of record on Wednesday, October 16th were paid 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 2.21%. Watsco’s payout ratio is 83.46%.

Insider Buying and Selling

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.86% of the stock is currently owned by insiders.

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.