Watsco, Inc. $WSO Shares Sold by Curi RMB Capital LLC

Key Points

• Curi RMB Capital LLC reduced its holdings in Watsco, Inc. by 3.1%, now owning 76,139 shares, which is 1.0% of its investment portfolio.
• Watsco's latest earnings report showed earnings per share of $4.52, missing estimates, with revenues down 3.6% year-over-year, at $2.06 billion.
• The company declared a quarterly dividend of $3.00 per share, resulting in a 3.1% annualized dividend yield.

Curi RMB Capital LLC trimmed its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,139 shares of the construction company's stock after selling 2,422 shares during the quarter. Watsco comprises approximately 1.0% of Curi RMB Capital LLC's portfolio, making the stock its 23rd largest holding. Curi RMB Capital LLC owned approximately 0.19% of Watsco worth $38,701,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Manitou Investment Management Ltd. purchased a new position in Watsco in the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in Watsco during the first quarter worth about $25,000. WPG Advisers LLC acquired a new stake in Watsco during the first quarter worth about $25,000. TCTC Holdings LLC increased its position 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 purchasing an additional 30 shares during the last quarter. Finally, City Holding Co. acquired a new stake in Watsco during the first quarter worth about $29,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on WSO. JPMorgan Chase & Co. raised their price objective on shares of Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. UBS Group reduced their price target on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating on the stock 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 research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $484.17.

Watsco Stock Up 1.2%

NYSE:WSO traded up $5.02 during trading hours on Friday, reaching $408.41. 241,987 shares of the stock were exchanged, compared to its average volume of 282,389. The business has a 50-day moving average of $439.49 and a two-hundred day moving average of $463.70. Watsco, Inc. has a twelve month low of $390.36 and a twelve month high of $571.41. The company has a market capitalization of $16.56 billion, a price-to-earnings ratio of 31.32 and a beta of 0.95.

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

Watsco Announces Dividend

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