KBC Group NV Decreases Stock Position in Watsco, Inc. (NYSE:WSO)

KBC Group NV cut its stake in shares of Watsco, Inc. (NYSE:WSO) by 7.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,865 shares of the construction company’s stock after selling 460 shares during the quarter. KBC Group NV’s holdings in Watsco were worth $2,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of WSO. EntryPoint Capital LLC boosted its stake in shares of Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after purchasing an additional 29 shares during the period. Quarry LP bought a new stake in Watsco during the 2nd quarter valued at $26,000. Tortoise Investment Management LLC boosted its position in Watsco by 76.2% during the 2nd 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 during the period. Ashton Thomas Securities LLC purchased a new stake in Watsco during the 3rd quarter valued at $43,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after acquiring an additional 22 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on WSO shares. Robert W. Baird lowered 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. JPMorgan Chase & Co. increased their price objective on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st.

Watsco Trading Down 1.0 %

NYSE:WSO opened at $520.74 on Monday. The company has a 50-day moving average price of $492.47 and a 200-day moving average price of $482.70. The stock has a market cap of $21.03 billion, a price-to-earnings ratio of 40.24 and a beta of 0.88. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $545.49.

Watsco (NYSE:WSO) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter last year, the business earned $4.35 earnings per share. The business’s quarterly revenue was up 1.6% on a year-over-year basis. Equities analysts forecast that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a $2.70 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.07%. Watsco’s dividend payout ratio (DPR) is 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.