Ensign Peak Advisors Inc Cuts Stake in Watsco, Inc. (NYSE:WSO)

Ensign Peak Advisors Inc lowered its position in Watsco, Inc. (NYSE:WSO) by 10.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,620 shares of the construction company’s stock after selling 3,040 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Watsco were worth $7,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC lifted its position in Watsco by 1.7% in the second quarter. Geode Capital Management LLC now owns 478,036 shares of the construction company’s stock valued at $137,025,000 after purchasing an additional 7,856 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Watsco by 180.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,431 shares of the construction company’s stock valued at $2,130,000 after purchasing an additional 4,785 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Watsco by 270.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 23,945 shares of the construction company’s stock valued at $6,863,000 after purchasing an additional 17,485 shares during the last quarter. Vident Investment Advisory LLC lifted its position in Watsco by 7.9% in the second quarter. Vident Investment Advisory LLC now owns 1,163 shares of the construction company’s stock valued at $333,000 after purchasing an additional 85 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in Watsco by 1.9% in the second quarter. ProShare Advisors LLC now owns 2,722 shares of the construction company’s stock valued at $780,000 after purchasing an additional 51 shares during the last quarter. 77.78% of the stock is owned by institutional investors and hedge funds.

Several analysts have weighed in on the company. Wolfe Research downgraded Watsco from a “peer perform” rating to an “underperform” rating and lowered their price objective for the company from $309.00 to $304.00 in a research report on Monday, July 12th. Stephens upgraded Watsco from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $300.00 to $350.00 in a report on Friday, July 23rd. Finally, Loop Capital started coverage on Watsco in a report on Tuesday, August 3rd. They set a “hold” rating and a $300.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Watsco currently has an average rating of “Hold” and a consensus target price of $281.33.

WSO opened at $278.35 on Thursday. The stock has a fifty day simple moving average of $276.73 and a two-hundred day simple moving average of $282.18. The company has a current ratio of 2.48, a quick ratio of 1.20 and a debt-to-equity ratio of 0.06. The company has a market cap of $10.78 billion, a price-to-earnings ratio of 30.93 and a beta of 0.77. Watsco, Inc. has a 12-month low of $216.25 and a 12-month high of $307.81.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Thursday, July 22nd. The construction company reported $3.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.56. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.68 billion. Watsco had a return on equity of 19.20% and a net margin of 6.19%. The firm’s quarterly revenue was up 36.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.26 earnings per share. On average, analysts predict that Watsco, Inc. will post 10.02 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 29th. Stockholders of record on Friday, October 15th will be paid a $1.95 dividend. The ex-dividend date of this dividend is Thursday, October 14th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 2.80%. Watsco’s dividend payout ratio is currently 111.27%.

About Watsco

Watsco, Inc engages in distribution of air conditioning, heating and refrigeration equipment and related parts. Its products include residential central air conditioners, gas, electric & oil furnaces, commercial air conditioning & heating equipment, and other specialized equipment, parts, including replacement compressors, evaporator coils, motors and other component parts; and supplies, including thermostats, insulation material, refrigerants, ductwork, grills, registers, sheet metal, tools, copper tubing, concrete pads, tape, adhesives, and other ancillary supplies.

Featured Article: What factors cause inflation to rise?

Want to see what other hedge funds are holding WSO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Watsco, Inc. (NYSE:WSO).

Institutional Ownership by Quarter for Watsco (NYSE:WSO)

Receive News & Ratings for Watsco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watsco and related companies with MarketBeat.com's FREE daily email newsletter.