Amalgamated Bank Sells 831 Shares of Watsco, Inc. (NYSE:WSO)

Amalgamated Bank reduced its position in Watsco, Inc. (NYSE:WSOGet Rating) by 3.4% in the first quarter, Holdings Channel.com reports. The fund owned 23,746 shares of the construction company’s stock after selling 831 shares during the quarter. Amalgamated Bank’s holdings in Watsco were worth $7,234,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GoalVest Advisory LLC bought a new position in shares of Watsco in the first quarter valued at approximately $32,000. O Dell Group LLC purchased a new stake in Watsco in the first quarter valued at approximately $32,000. Zullo Investment Group Inc. raised its stake in Watsco by 351.6% in the first quarter. Zullo Investment Group Inc. now owns 140 shares of the construction company’s stock valued at $43,000 after purchasing an additional 109 shares in the last quarter. GHP Investment Advisors Inc. purchased a new stake in Watsco in the first quarter valued at approximately $56,000. Finally, Prospera Financial Services Inc purchased a new stake in Watsco in the first quarter valued at approximately $60,000. 82.38% of the stock is currently owned by institutional investors.

Watsco Trading Down 0.8 %

WSO stock opened at $269.93 on Friday. The company has a market capitalization of $10.52 billion, a PE ratio of 20.04 and a beta of 0.92. Watsco, Inc. has a one year low of $220.68 and a one year high of $318.98. The company’s 50 day moving average price is $275.51 and its two-hundred day moving average price is $271.61. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.08 and a current ratio of 2.47.

Watsco (NYSE:WSOGet Rating) last issued its earnings results on Tuesday, July 26th. The construction company reported $4.93 EPS for the quarter, topping the consensus estimate of $4.82 by $0.11. Watsco had a net margin of 7.56% and a return on equity of 25.27%. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the firm earned $3.71 earnings per share. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, analysts predict that Watsco, Inc. will post 14.53 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were paid a $2.20 dividend. This represents a $8.80 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Thursday, July 14th. Watsco’s payout ratio is 65.33%.

Wall Street Analysts Forecast Growth

WSO has been the topic of a number of recent analyst reports. Robert W. Baird raised shares of Watsco from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $350.00 to $313.00 in a research note on Thursday, July 14th. Morgan Stanley raised their target price on shares of Watsco from $204.00 to $217.00 and gave the company an “underweight” rating in a research note on Thursday, September 1st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Watsco in a research note on Wednesday, August 17th. They issued a “hold” rating and a $311.00 target price on the stock. Stephens lowered their target price on shares of Watsco to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. Finally, KeyCorp lifted their price target on shares of Watsco from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $300.20.

About Watsco

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Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, refrigeration equipment, and related parts and supplies. The company distributes equipment comprising 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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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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