Watsco, Inc. (NYSE:WSO) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lowered its stake in shares of Watsco, Inc. (NYSE:WSO) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,426 shares of the construction company’s stock after selling 36 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Watsco were worth $701,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WSO. EntryPoint Capital LLC increased its stake in shares of Watsco by 100.0% during the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after acquiring an additional 29 shares during the last quarter. Quarry LP purchased a new stake in shares of Watsco during the 2nd quarter worth about $26,000. ORG Partners LLC purchased a new stake in shares of Watsco during the 1st quarter worth about $31,000. Tortoise Investment Management LLC grew its holdings in shares of Watsco by 76.2% during the 2nd 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. Finally, Salomon & Ludwin LLC grew its holdings in shares of Watsco by 52.6% during the 1st quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock worth $38,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

Shares of NYSE WSO opened at $475.90 on Monday. Watsco, Inc. has a 1-year low of $340.52 and a 1-year high of $520.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.36 and a quick ratio of 1.65. The business’s fifty day moving average price is $482.01 and its two-hundred day moving average price is $474.15. The firm has a market capitalization of $19.20 billion, a PE ratio of 36.78 and a beta of 0.88.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing the consensus estimate of $4.73 by ($0.51). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. Watsco’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $4.35 earnings per share. On average, research analysts expect that Watsco, Inc. will post 13.43 EPS for the current year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be paid a dividend of $2.70 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 2.27%. Watsco’s dividend payout ratio is currently 83.46%.

Wall Street Analyst Weigh In

WSO has been the subject of a number of research reports. Robert W. Baird decreased their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday. JPMorgan Chase & Co. boosted their target price on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st.

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.