Teza Capital Management LLC Sells 613 Shares of Watsco, Inc. $WSO

Key Points

• Teza Capital Management LLC reduced its Watsco holdings by 41.2% in Q1, now owning 875 shares valued at approximately $445,000.
• Watsco's recent earnings report showed an EPS of $4.52, missing estimates and reflecting a 3.6% revenue decline from the previous year.
• The company announced a quarterly dividend of $3.00, yielding 2.9%, with a high payout ratio of 92.02%.

Teza Capital Management LLC trimmed its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 41.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 875 shares of the construction company's stock after selling 613 shares during the quarter. Teza Capital Management LLC's holdings in Watsco were worth $445,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC bought a new stake in Watsco during the first quarter valued at approximately $266,000. Teacher Retirement System of Texas bought a new stake in Watsco during the first quarter valued at approximately $2,588,000. Golden State Wealth Management LLC grew its position in Watsco by 109.4% during the first quarter. Golden State Wealth Management LLC now owns 222 shares of the construction company's stock valued at $113,000 after buying an additional 116 shares during the period. SG Americas Securities LLC grew its position in Watsco by 133.1% during the first quarter. SG Americas Securities LLC now owns 844 shares of the construction company's stock valued at $429,000 after buying an additional 482 shares during the period. Finally, Fifth Third Bancorp grew its position in Watsco by 4.8% during the first quarter. Fifth Third Bancorp now owns 1,028 shares of the construction company's stock valued at $523,000 after buying an additional 47 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Watsco Price Performance

WSO opened at $408.41 on Monday. The firm has a market cap of $16.56 billion, a P/E ratio of 31.32 and a beta of 0.96. Watsco, Inc. has a 1-year low of $390.36 and a 1-year high of $571.41. The company has a 50 day simple moving average of $439.49 and a two-hundred day simple moving average of $463.34.

Watsco (NYSE:WSO - Get Free Report) last released 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 last year, the firm posted $4.49 EPS. Watsco's quarterly revenue was down 3.6% compared to the same quarter last year. Equities analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, July 16th. Watsco's payout ratio is 92.02%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WSO shares. JPMorgan Chase & Co. boosted 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 dropped their price target on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a research report on Wednesday, June 25th. Finally, Morgan Stanley set a $505.00 price target on shares of Watsco in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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.

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