LVW Advisors LLC Sells 159 Shares of Watsco, Inc. $WSO

LVW Advisors LLC cut its stake in Watsco, Inc. (NYSE:WSO) by 8.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,664 shares of the construction company’s stock after selling 159 shares during the quarter. LVW Advisors LLC’s holdings in Watsco were worth $735,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Manitou Investment Management Ltd. purchased a new stake in Watsco during the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Watsco during the 1st quarter valued at about $25,000. WPG Advisers LLC purchased a new stake in shares of Watsco during the 1st quarter valued at about $25,000. TCTC Holdings LLC boosted its holdings in shares of Watsco by 115.4% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the construction company’s stock valued at $28,000 after acquiring an additional 30 shares during the last quarter. Finally, City Holding Co. purchased a new stake in shares of Watsco during the 1st quarter valued at about $29,000. 89.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WSO shares. UBS Group dropped their price target on shares of Watsco from $450.00 to $425.00 and set a “neutral” rating on the stock in a report on Tuesday, September 23rd. Morgan Stanley set a $505.00 price objective on shares of Watsco in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $480.00.

Watsco Stock Performance

WSO stock opened at $398.08 on Friday. The firm has a fifty day moving average price of $417.95 and a 200 day moving average price of $452.30. Watsco, Inc. has a fifty-two week low of $378.35 and a fifty-two week high of $571.41. The firm has a market cap of $16.14 billion, a PE ratio of 30.53 and a beta of 0.95.

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

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors 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 dividend on an annualized basis and a yield of 3.0%. Watsco’s dividend payout ratio 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.