EverSource Wealth Advisors LLC Sells 3,046 Shares of Watsco, Inc. $WSO

EverSource Wealth Advisors LLC trimmed its stake in shares of Watsco, Inc. (NYSE:WSO) by 73.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,101 shares of the construction company’s stock after selling 3,046 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Watsco were worth $445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. TD Waterhouse Canada Inc. grew its holdings in shares of Watsco by 242.9% in the second quarter. TD Waterhouse Canada Inc. now owns 72 shares of the construction company’s stock worth $33,000 after purchasing an additional 51 shares during the last quarter. SJS Investment Consulting Inc. boosted its position in Watsco by 2,366.7% during the 3rd quarter. SJS Investment Consulting Inc. now owns 74 shares of the construction company’s stock valued at $30,000 after buying an additional 71 shares during the period. TruNorth Capital Management LLC purchased a new stake in Watsco during the 3rd quarter valued at $37,000. Capital A Wealth Management LLC increased its position in shares of Watsco by 4,700.0% in the second quarter. Capital A Wealth Management LLC now owns 96 shares of the construction company’s stock valued at $41,000 after acquiring an additional 94 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in shares of Watsco by 1,300.0% during the second quarter. Hantz Financial Services Inc. now owns 112 shares of the construction company’s stock valued at $49,000 after acquiring an additional 104 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Trading Up 1.6%

Shares of WSO stock opened at $417.46 on Friday. Watsco, Inc. has a 12-month low of $323.05 and a 12-month high of $533.07. The stock has a market capitalization of $16.93 billion, a P/E ratio of 34.47 and a beta of 1.04. The firm’s 50 day moving average is $384.74 and its 200 day moving average is $378.61.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, February 17th. The construction company reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.26). The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.62 billion. Watsco had a net margin of 6.87% and a return on equity of 15.49%. Watsco’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.37 earnings per share. As a group, equities analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 16th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, January 16th. Watsco’s dividend payout ratio (DPR) is presently 99.09%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Watsco from $370.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Morgan Stanley cut their price objective on Watsco from $460.00 to $370.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 14th. Zacks Research upgraded Watsco from a “strong sell” rating to a “hold” rating in a report on Wednesday. Mizuho set a $425.00 price target on Watsco in a research note on Wednesday, February 18th. Finally, Wolfe Research set a $349.00 price objective on shares of Watsco in a research report on Tuesday, December 9th. One research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $409.00.

Watsco Company Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.