Watsco, Inc. $WSO Shares Sold by Dudley & Shanley Inc.

Dudley & Shanley Inc. trimmed its position in shares of Watsco, Inc. (NYSE:WSO) by 33.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,565 shares of the construction company’s stock after selling 26,447 shares during the period. Watsco makes up 2.5% of Dudley & Shanley Inc.’s portfolio, making the stock its 21st biggest holding. Dudley & Shanley Inc.’s holdings in Watsco were worth $15,608,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Markel Group Inc. grew its stake in shares of Watsco by 0.8% in the first quarter. Markel Group Inc. now owns 582,169 shares of the construction company’s stock worth $211,787,000 after acquiring an additional 4,500 shares during the last quarter. Captrust Financial Advisors raised its stake in Watsco by 1.5% during the 4th quarter. Captrust Financial Advisors now owns 396,514 shares of the construction company’s stock valued at $133,605,000 after purchasing an additional 6,034 shares during the last quarter. Bank of America Corp DE bought a new stake in Watsco in the 2nd quarter valued at $119,291,000. Bank of New York Mellon Corp acquired a new stake in Watsco in the 2nd quarter worth $97,937,000. Finally, Confluence Investment Management LLC acquired a new position in shares of Watsco during the third quarter valued at about $96,991,000. 89.71% of the stock is currently owned by institutional investors.

Watsco Price Performance

Shares of WSO stock traded up $2.62 during trading hours on Tuesday, hitting $294.77. 127,388 shares of the company’s stock were exchanged, compared to its average volume of 450,364. The stock has a market cap of $12.16 billion, a price-to-earnings ratio of 25.56 and a beta of 1.06. Watsco, Inc. has a 52 week low of $285.62 and a 52 week high of $459.00. The stock’s 50-day moving average is $314.54 and its 200-day moving average is $365.33.

Watsco (NYSE:WSO) last announced its earnings results on Wednesday, July 29th. The construction company reported $4.00 earnings per share for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.41). Watsco had a return on equity of 14.40% and a net margin of 6.53%.The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the prior year, the firm posted $4.52 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Equities research analysts forecast that Watsco, Inc. will post 12.21 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, October 16th. Watsco’s payout ratio is currently 114.48%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WSO shares. Weiss Ratings restated a “hold (c)” rating on shares of Watsco in a research note on Tuesday, September 22nd. Morgan Stanley lifted their price objective on Watsco from $370.00 to $405.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. Stephens restated an “overweight” rating and set a $485.00 price objective on shares of Watsco in a research report on Monday, August 17th. DA Davidson cut their target price on Watsco from $385.00 to $330.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Finally, Robert W. Baird set a $400.00 price target on shares of Watsco in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $395.50.

Watsco Company Profile

Watsco, Inc (NYSE: WSO) is a distributor of heating, air conditioning and refrigeration equipment and related products. The company supplies residential and commercial contractors with air conditioners, heat pumps, furnaces, refrigeration systems, indoor air-quality products, controls, replacement parts and other installation supplies.

Watsco serves the replacement and new-construction markets through a network of distribution centers, branches, showrooms and e-commerce platforms. Its customers primarily include HVAC and refrigeration contractors, dealers and other industry professionals, while its products are sourced from major manufacturers and distributed under leading industry brands.

Founded in 1956, Watsco has expanded through organic growth and acquisitions to become one of the largest HVAC and refrigeration distributors in North America.