Motley Fool Wealth Management LLC Sells 4,136 Shares of Watsco, Inc. (NYSE:WSO)

Key Points

• Motley Fool Wealth Management LLC has decreased its stake in Watsco, Inc. by 13.8%, now holding approximately 25,800 shares valued at about $13,114,000.
• Watsco's recent quarterly earnings report showed an EPS of $4.52, which fell short of analysts' expectations of $4.84, alongside a 3.6% year-over-year decline in revenue.
• The company declared a quarterly dividend of $3.00, contributing to an annualized dividend yield of 2.9% with a payout ratio of 92.02%.

Motley Fool Wealth Management LLC decreased its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 13.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,800 shares of the construction company's stock after selling 4,136 shares during the period. Motley Fool Wealth Management LLC owned about 0.06% of Watsco worth $13,114,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Manitou Investment Management Ltd. acquired a new stake in shares of Watsco in the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new stake in Watsco during the first quarter worth approximately $25,000. TCTC Holdings LLC boosted its holdings in Watsco by 115.4% during the first quarter. TCTC Holdings LLC now owns 56 shares of the construction company's stock worth $28,000 after buying an additional 30 shares in the last quarter. City Holding Co. purchased a new position in Watsco during the 1st quarter worth approximately $29,000. Finally, Rossby Financial LCC purchased a new position in Watsco during the 1st quarter worth approximately $33,000. Institutional investors own 89.71% of the company's stock.

Wall Street Analyst Weigh In

WSO has been the subject of a number of research reports. Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Mizuho set a $490.00 price objective on shares of Watsco in a report on Thursday, April 24th. JPMorgan Chase & Co. lifted their target price on shares of Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. UBS Group cut their price objective on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating on the stock in a report on Wednesday, June 25th. Finally, Morgan Stanley set a $505.00 price objective on shares of Watsco in a research report on Wednesday, July 2nd. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $484.17.

Watsco Price Performance

Watsco stock traded up $9.40 during midday trading on Wednesday, hitting $431.94. The company's stock had a trading volume of 269,763 shares, compared to its average volume of 365,230. Watsco, Inc. has a 1-year low of $403.01 and a 1-year high of $571.41. The company has a 50-day moving average price of $448.07 and a two-hundred day moving average price of $472.48. The company has a market cap of $17.50 billion, a price-to-earnings ratio of 33.12 and a beta of 0.95.

Watsco (NYSE:WSO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The construction company reported $4.52 earnings per share 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 business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the firm earned $4.49 EPS. Watsco's revenue for the quarter was down 3.6% compared to the same quarter last year. Sell-side analysts forecast that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Wednesday, July 16th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Wednesday, July 16th. This represents a $12.00 annualized dividend and a dividend yield of 2.8%. Watsco's payout ratio is 92.02%.

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.