Regents Gate Capital LLP Lowers Position in Watsco, Inc. (NYSE:WSO)

Regents Gate Capital LLP decreased its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 91.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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.

Several other large investors have also bought and sold shares of the stock. Opal Wealth Advisors LLC purchased a new stake in Watsco during the first quarter worth about $25,000. Manitou Investment Management Ltd. bought a new stake in shares of Watsco in the 1st quarter worth approximately $25,000. City Holding Co. purchased a new position in Watsco in the first quarter valued at approximately $29,000. Rossby Financial LCC bought a new position in Watsco during the first quarter valued at $33,000. Finally, ST Germain D J Co. Inc. increased its position in Watsco by 260.0% in the first quarter. ST Germain D J Co. Inc. now owns 72 shares of the construction company's stock worth $37,000 after buying an additional 52 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Performance

Shares of WSO stock traded up $12.74 during mid-day trading on Wednesday, hitting $471.81. The company's stock had a trading volume of 371,032 shares, compared to its average volume of 260,632. The business has a 50-day moving average price of $452.81 and a 200 day moving average price of $477.31. The stock has a market cap of $19.11 billion, a price-to-earnings ratio of 36.27 and a beta of 1.04. Watsco, Inc. has a 52-week low of $418.31 and a 52-week high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.36). Watsco had a return on equity of 17.13% and a net margin of 6.98%. The firm had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.66 billion. During the same period in the previous year, the business posted $2.17 earnings per share. The company's revenue for the quarter was down 2.2% on a year-over-year basis. Equities research analysts predict that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Wednesday, July 16th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Wednesday, July 16th. Watsco's payout ratio is 92.24%.

Analyst Ratings Changes

Several brokerages recently weighed in on WSO. UBS Group decreased their price objective on Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a report on Wednesday, June 25th. Morgan Stanley set a $505.00 price target on shares of Watsco in a report on Wednesday, July 2nd. Mizuho set a $490.00 price objective on shares of Watsco in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Finally, Robert W. Baird reduced their target price on Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $484.17.

Watsco Company 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.