Watsco, Inc. $WSO Shares Sold by Perfromance Wealth Partners LLC

Key Points

• Performance Wealth Partners LLC reduced its holdings in Watsco, Inc. by 68.1%, selling 1,040 shares and bringing its total to 487 shares valued at $215,000.
• Analysts have downgraded Watsco's price targets, with UBS reducing it from $450 to $425 and Morgan Stanley from $505 to $460, reflecting a general trend towards a "Hold" rating among analysts.
• Watsco recently declared a quarterly dividend of $3.00, which yields approximately 3.3%, with a payout ratio of 92.02%.

Perfromance Wealth Partners LLC lessened its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 68.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 487 shares of the construction company's stock after selling 1,040 shares during the quarter. Perfromance Wealth Partners LLC's holdings in Watsco were worth $215,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of WSO. GAMMA Investing LLC grew its stake in Watsco by 76.0% during the 1st quarter. GAMMA Investing LLC now owns 940 shares of the construction company's stock valued at $478,000 after purchasing an additional 406 shares in the last quarter. SG Americas Securities LLC grew its stake in Watsco by 133.1% during the 1st quarter. SG Americas Securities LLC now owns 844 shares of the construction company's stock valued at $429,000 after purchasing an additional 482 shares in the last quarter. Fifth Third Bancorp grew its stake in Watsco by 4.8% during the 1st quarter. Fifth Third Bancorp now owns 1,028 shares of the construction company's stock valued at $523,000 after purchasing an additional 47 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Watsco during the 1st quarter valued at approximately $25,000. Finally, Access Financial Services Inc. grew its stake in Watsco by 6.4% during the 1st quarter. Access Financial Services Inc. now owns 3,412 shares of the construction company's stock valued at $1,734,000 after purchasing an additional 205 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. UBS Group lowered their price objective on Watsco from $450.00 to $425.00 and set a "neutral" rating for the company in a research note on Tuesday, September 23rd. Morgan Stanley decreased their target price on Watsco from $505.00 to $460.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 8th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Watsco in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $472.50.

Watsco Price Performance

Watsco stock opened at $365.27 on Tuesday. The company has a market cap of $14.81 billion, a PE ratio of 28.01 and a beta of 0.94. The company has a fifty day moving average price of $402.74 and a two-hundred day moving average price of $443.34. Watsco, Inc. has a 12 month low of $364.19 and a 12 month high of $571.41.

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

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Thursday, October 16th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.3%. Watsco's dividend payout ratio (DPR) 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.

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