Watsco, Inc. (NYSE:WSO) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in Watsco, Inc. (NYSE:WSO) by 15.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,904 shares of the construction company’s stock after selling 2,311 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Watsco were worth $6,347,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. J. W. Coons Advisors LLC raised its stake 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 valued at $1,475,000 after purchasing an additional 20 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Watsco by 30.6% during 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 period. CWM LLC boosted its position in Watsco by 2.6% during the 3rd quarter. CWM LLC now owns 952 shares of the construction company’s stock worth $468,000 after acquiring an additional 24 shares during the period. MCF Advisors LLC lifted its holdings in Watsco by 27.8% in the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after purchasing an additional 25 shares during the period. Finally, Equitable Trust Co. boosted its holdings in shares of Watsco by 2.2% in the third quarter. Equitable Trust Co. now owns 1,166 shares of the construction company’s stock valued at $574,000 after acquiring an additional 25 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analysts Set New Price Targets

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

Watsco Trading Down 0.6 %

WSO opened at $551.60 on Monday. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41. The stock has a fifty day moving average price of $506.47 and a 200 day moving average price of $487.92. The stock has a market cap of $22.27 billion, a price-to-earnings ratio of 42.63 and a beta of 0.88.

Watsco (NYSE:WSO) last announced its quarterly 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 business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the company earned $4.35 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio is 83.46%.

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.