Generali Asset Management SPA SGR Sells 1,275 Shares of Watsco, Inc. $WSO

Key Points

• Generali Asset Management SPA SGR has reduced its stake in Watsco, Inc. by 22% during Q2, selling 1,275 shares to hold 4,512 shares worth approximately $1.99 million.
• Watsco recently reported **Q2 earnings of $4.52 EPS**, missing estimates by $0.32, while its revenue of $2.06 billion fell below expectations of $2.24 billion, marking a 3.6% year-over-year decline.
• The company has announced a quarterly dividend of **$3.00 per share**, with a payout ratio of **92.02%**, indicating strong shareholder returns despite the recent earnings miss.

Generali Asset Management SPA SGR cut its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 22.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,512 shares of the construction company's stock after selling 1,275 shares during the quarter. Generali Asset Management SPA SGR's holdings in Watsco were worth $1,993,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Watsco by 76.0% in the 1st quarter. GAMMA Investing LLC now owns 940 shares of the construction company's stock worth $478,000 after purchasing an additional 406 shares during the period. SG Americas Securities LLC lifted its position in Watsco by 133.1% in the first quarter. SG Americas Securities LLC now owns 844 shares of the construction company's stock valued at $429,000 after purchasing an additional 482 shares during the last quarter. Insigneo Advisory Services LLC lifted its position in Watsco by 6.8% in the first quarter. Insigneo Advisory Services LLC now owns 580 shares of the construction company's stock valued at $295,000 after purchasing an additional 37 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Watsco by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 4,077 shares of the construction company's stock valued at $2,072,000 after purchasing an additional 105 shares during the last quarter. Finally, Centennial Wealth Advisory LLC lifted its position in Watsco by 2.9% in the first quarter. Centennial Wealth Advisory LLC now owns 776 shares of the construction company's stock valued at $395,000 after purchasing an additional 22 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Trading Up 2.9%

NYSE:WSO opened at $370.02 on Friday. The company has a 50-day moving average price of $399.42 and a 200-day moving average price of $441.28. Watsco, Inc. has a 12 month low of $350.00 and a 12 month high of $571.41. The stock has a market cap of $15.00 billion, a price-to-earnings ratio of 28.38 and a beta of 0.94.

Watsco (NYSE:WSO - Get Free Report) last posted its earnings results on Wednesday, July 30th. The construction company reported $4.52 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.32). Watsco had a return on equity of 16.96% and a net margin of 7.08%.The company had revenue of $2.06 billion during the quarter, compared to analysts' expectations of $2.24 billion. During the same period in the prior year, the business posted $4.49 earnings per share. The company's revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Thursday, October 16th will be given a dividend of $3.00 per share. The ex-dividend date is Thursday, October 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.2%. Watsco's payout ratio is currently 92.02%.

Analyst Ratings Changes

Several analysts have weighed in on WSO shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of Watsco in a research report on Wednesday, October 8th. Morgan Stanley lowered their price objective on Watsco from $505.00 to $460.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 8th. UBS Group lowered their price objective on Watsco from $450.00 to $425.00 and set a "neutral" rating for the company in a research report on Tuesday, September 23rd. William Blair reiterated a "market perform" rating on shares of Watsco in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on Watsco from $425.00 to $400.00 and set a "neutral" rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $462.50.

Watsco 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.

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