Regents Gate Capital LLP Trims Stock Holdings in Watsco, Inc. (NYSE:WSO)

Regents Gate Capital LLP lessened its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 91.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,605 shares of the construction company's stock after selling 16,282 shares during the period. Regents Gate Capital LLP's holdings in Watsco were worth $816,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Valeo Financial Advisors LLC increased its holdings in Watsco by 2.3% in the first quarter. Valeo Financial Advisors LLC now owns 1,056 shares of the construction company's stock valued at $537,000 after buying an additional 24 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in Watsco by 3.8% in the first quarter. Stratos Wealth Partners LTD. now owns 24,004 shares of the construction company's stock valued at $12,202,000 after buying an additional 885 shares in the last quarter. Stratos Investment Management LLC increased its holdings in Watsco by 16.7% in the first quarter. Stratos Investment Management LLC now owns 517 shares of the construction company's stock valued at $263,000 after buying an additional 74 shares in the last quarter. Brown Advisory Inc. increased its holdings in Watsco by 129.3% in the first quarter. Brown Advisory Inc. now owns 7,722 shares of the construction company's stock valued at $3,925,000 after buying an additional 4,355 shares in the last quarter. Finally, Fullcircle Wealth LLC purchased a new position in Watsco in the first quarter valued at $239,000. Hedge funds and other institutional investors own 89.71% of the company's stock.

Watsco Stock Down 1.0%

NYSE WSO traded down $4.96 during trading on Friday, hitting $471.33. The stock had a trading volume of 232,042 shares, compared to its average volume of 261,633. The company has a market capitalization of $19.09 billion, a PE ratio of 36.23 and a beta of 1.04. The firm has a 50 day moving average price of $453.34 and a 200 day moving average price of $476.97. Watsco, Inc. has a twelve month low of $418.31 and a twelve month high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing analysts' consensus estimates of $2.29 by ($0.36). Watsco had a return on equity of 17.13% and a net margin of 6.98%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the firm posted $2.17 earnings per share. The business's quarterly revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 16th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Wednesday, July 16th. Watsco's dividend payout ratio (DPR) is 92.24%.

Analyst Upgrades and Downgrades

WSO has been the topic of a number of recent analyst reports. Mizuho set a $490.00 target price on Watsco in a research report on Thursday, April 24th. Morgan Stanley set a $505.00 price objective on Watsco in a report on Wednesday, July 2nd. Robert W. Baird decreased their price objective on Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Wall Street Zen upgraded Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Finally, UBS Group decreased their price objective on Watsco from $455.00 to $450.00 and set a "neutral" rating on the stock in a report on Wednesday, June 25th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $484.17.

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.