Ascent Group LLC Has $990,000 Holdings in Watsco, Inc. $WSO

Ascent Group LLC trimmed its stake in Watsco, Inc. (NYSE:WSO) by 4.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,242 shares of the construction company’s stock after selling 93 shares during the period. Ascent Group LLC’s holdings in Watsco were worth $990,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WSO. Manitou Investment Management Ltd. bought a new position in shares of Watsco during the first quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new stake in Watsco during the 1st quarter valued at approximately $25,000. WPG Advisers LLC bought a new position in Watsco during the 1st quarter worth approximately $25,000. Ameritas Advisory Services LLC bought a new position in Watsco during the 2nd quarter worth approximately $26,000. Finally, TCTC Holdings LLC lifted its position in shares of Watsco by 115.4% in the 1st 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 period. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Performance

Shares of NYSE:WSO opened at $415.70 on Monday. Watsco, Inc. has a 52-week low of $378.35 and a 52-week high of $571.41. The business’s 50 day simple moving average is $410.44 and its two-hundred day simple moving average is $448.50. The firm has a market cap of $16.86 billion, a P/E ratio of 31.88 and a beta of 0.94.

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

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Thursday, October 16th will be paid a dividend of $3.00 per share. The ex-dividend date is Thursday, October 16th. This represents a $12.00 dividend on an annualized basis and a yield of 2.9%. Watsco’s payout ratio is 92.02%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. UBS Group decreased their price objective on shares of Watsco from $450.00 to $425.00 and set a “neutral” rating for the company in a research report on Tuesday, September 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Watsco in a report on Saturday, September 27th. Finally, Morgan Stanley set a $505.00 price objective on Watsco in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $480.00.

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.