UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Holdings in Watsco, Inc. (NYSE:WSO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in Watsco, Inc. (NYSE:WSO) by 12.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,860 shares of the construction company’s stock after selling 17,007 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.29% of Watsco worth $58,465,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WSO. Quarry LP purchased a new stake in Watsco in the 2nd quarter worth about $26,000. Tortoise Investment Management LLC boosted its position in Watsco by 76.2% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after purchasing an additional 32 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Watsco in the third quarter worth about $43,000. Massmutual Trust Co. FSB ADV increased 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 worth $46,000 after purchasing an additional 22 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Watsco in the third quarter valued at approximately $48,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Price Performance

NYSE WSO opened at $543.19 on Wednesday. The company’s 50 day simple moving average is $507.41 and its two-hundred day simple moving average is $488.47. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41. The stock has a market capitalization of $21.93 billion, a PE ratio of 41.98 and a beta of 0.92.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (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 analysts’ expectations of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $4.35 EPS. On average, research analysts anticipate that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.99%. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

Analysts Set New Price Targets

WSO has been the subject of a number of recent research reports. Robert W. Baird reduced their price objective 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. Northcoast Research assumed coverage on Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Watsco has an average rating of “Moderate Buy” and an average price target of $491.25.

About Watsco

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.