Watsco, Inc. (NYSE:WSO) Stake Lessened by Centennial Bank AR

Centennial Bank AR decreased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 2.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,575 shares of the construction company’s stock after selling 52 shares during the quarter. Centennial Bank AR’s holdings in Watsco were worth $1,267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Van ECK Associates Corp grew its stake in Watsco by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 6,570 shares of the construction company’s stock valued at $3,064,000 after acquiring an additional 652 shares in the last quarter. Confluence Wealth Services Inc. increased its stake in Watsco by 5.5% in the 3rd quarter. Confluence Wealth Services Inc. now owns 2,289 shares of the construction company’s stock valued at $1,125,000 after buying an additional 120 shares during the period. Campbell Capital Management Inc. lifted its position in Watsco by 600.0% in the 3rd quarter. Campbell Capital Management Inc. now owns 3,500 shares of the construction company’s stock worth $1,722,000 after buying an additional 3,000 shares in the last quarter. Princeton Global Asset Management LLC boosted its stake in shares of Watsco by 1.6% during the 3rd quarter. Princeton Global Asset Management LLC now owns 18,385 shares of the construction company’s stock valued at $9,043,000 after buying an additional 281 shares during the period. Finally, Conestoga Capital Advisors LLC grew its holdings in shares of Watsco by 0.9% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 96,532 shares of the construction company’s stock valued at $47,482,000 after acquiring an additional 823 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Price Performance

Shares of NYSE:WSO opened at $474.00 on Monday. The stock has a market capitalization of $19.12 billion, a P/E ratio of 36.63 and a beta of 0.88. The business has a 50-day moving average of $481.62 and a two-hundred day moving average of $475.84. Watsco, Inc. has a fifty-two week low of $359.59 and a fifty-two week 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.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $4.35 earnings per share. On average, equities research analysts predict that Watsco, Inc. will post 13.28 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s payout ratio is 83.46%.

Analyst Ratings Changes

A number of research firms recently issued reports on WSO. Robert W. Baird reduced their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price target on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st.

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.