Crown Oak Advisors LLC Decreases Stock Holdings in Watsco, Inc. (NYSE:WSO)

Crown Oak Advisors LLC cut its stake in shares of Watsco, Inc. (NYSE:WSO) by 5.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,020 shares of the construction company’s stock after selling 1,185 shares during the quarter. Watsco accounts for about 5.5% of Crown Oak Advisors LLC’s portfolio, making the stock its 7th largest position. Crown Oak Advisors LLC’s holdings in Watsco were worth $9,847,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised 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 purchasing an additional 22 shares during the period. CWM LLC raised its position in shares of Watsco by 2.6% in the third quarter. CWM LLC now owns 952 shares of the construction company’s stock valued at $468,000 after purchasing an additional 24 shares during the period. Mather Group LLC. boosted its holdings in shares of Watsco by 10.2% in the second quarter. Mather Group LLC. now owns 293 shares of the construction company’s stock worth $127,000 after acquiring an additional 27 shares during the period. EntryPoint Capital LLC lifted its holdings in shares of Watsco by 100.0% in the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after buying an additional 29 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its position in shares of Watsco by 52.6% in the first quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock worth $38,000 after buying an additional 30 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Watsco from $522.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st.

Watsco Price Performance

Shares of NYSE:WSO traded down $1.29 on Thursday, reaching $493.32. The company’s stock had a trading volume of 4,818 shares, compared to its average volume of 288,918. The company has a 50-day simple moving average of $480.15 and a 200 day simple moving average of $471.32. The company has a market cap of $19.88 billion, a P/E ratio of 38.05 and a beta of 0.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.55 and a current ratio of 3.21. Watsco, Inc. has a 52-week low of $338.58 and a 52-week high of $520.41.

Watsco (NYSE:WSO) last announced its earnings results on Tuesday, July 30th. The construction company reported $4.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.70 by ($0.21). Watsco had a net margin of 7.02% and a return on equity of 18.55%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.19 billion. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $4.42 EPS. As a group, equities research analysts anticipate that Watsco, Inc. will post 13.83 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th will be given a $2.70 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.19%. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

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.