Elevated Capital Advisors LLC Sells 27 Shares of Watsco, Inc. (NYSE:WSO)

Elevated Capital Advisors LLC reduced its stake in shares of Watsco, Inc. (NYSE:WSO) by 1.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,823 shares of the construction company’s stock after selling 27 shares during the period. Elevated Capital Advisors LLC’s holdings in Watsco were worth $896,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WSO. Massmutual Trust Co. FSB ADV grew its holdings in Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after acquiring an additional 22 shares during the last quarter. CWM LLC raised its holdings in Watsco by 2.6% in the third quarter. CWM LLC now owns 952 shares of the construction company’s stock worth $468,000 after buying an additional 24 shares during the last quarter. Mather Group LLC. raised its holdings in 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 buying an additional 27 shares during the last quarter. EntryPoint Capital LLC grew its stake 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 acquiring an additional 29 shares during the period. Finally, Salomon & Ludwin LLC grew its stake 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 acquiring an additional 30 shares during the period. 89.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on WSO shares. Robert W. Baird boosted their target price on shares of Watsco from $522.00 to $550.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st.

Watsco Stock Down 1.5 %

NYSE:WSO opened at $484.78 on Wednesday. Watsco, Inc. has a fifty-two week low of $338.58 and a fifty-two week high of $520.41. The stock has a market capitalization of $19.54 billion, a P/E ratio of 37.29 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. The company’s 50-day simple moving average is $482.12 and its 200-day simple moving average is $473.33.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, July 30th. The construction company reported $4.49 earnings per share for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). Watsco had a net margin of 7.02% and a return on equity of 18.55%. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.19 billion. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.42 earnings per share. On average, equities analysts anticipate that Watsco, Inc. will post 13.78 earnings per share for the current fiscal year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be given a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Wednesday, October 16th. Watsco’s payout ratio is currently 83.08%.

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.