Watsco Inc (NYSE:WSO) Shares Sold by Man Group plc

Man Group plc lowered its stake in Watsco Inc (NYSE:WSO) by 31.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,821 shares of the construction company’s stock after selling 5,469 shares during the period. Man Group plc’s holdings in Watsco were worth $1,933,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in WSO. Quantamental Technologies LLC acquired a new position in shares of Watsco in the second quarter valued at approximately $34,000. Cedar Wealth Management LLC acquired a new position in shares of Watsco in the second quarter valued at approximately $38,000. Heritage Wealth Advisors increased its holdings in shares of Watsco by 776.7% in the second quarter. Heritage Wealth Advisors now owns 263 shares of the construction company’s stock valued at $43,000 after purchasing an additional 233 shares during the period. Advisory Services Network LLC increased its holdings in shares of Watsco by 54.2% in the second quarter. Advisory Services Network LLC now owns 273 shares of the construction company’s stock valued at $45,000 after purchasing an additional 96 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of Watsco in the second quarter valued at approximately $108,000. 77.05% of the stock is currently owned by institutional investors and hedge funds.

Watsco stock opened at $160.28 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.92 and a quick ratio of 1.25. Watsco Inc has a 1-year low of $131.88 and a 1-year high of $175.41. The company has a market cap of $6.25 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 1.99 and a beta of 0.85. The stock’s 50 day moving average price is $163.20 and its 200 day moving average price is $158.19.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Thursday, July 18th. The construction company reported $2.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.54 by ($0.14). Watsco had a net margin of 5.17% and a return on equity of 14.63%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the firm earned $2.40 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that Watsco Inc will post 6.59 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a $1.60 dividend. The ex-dividend date is Friday, October 11th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.99%. Watsco’s dividend payout ratio (DPR) is presently 98.61%.

Separately, Zacks Investment Research downgraded Watsco from a “hold” rating to a “sell” rating and set a $167.00 price target on the stock. in a research note on Saturday, August 3rd.

About Watsco

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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