Citizens Financial Group Inc. RI Sells 2,194 Shares of Watsco, Inc. $WSO

Citizens Financial Group Inc. RI lessened its stake in shares of Watsco, Inc. (NYSE:WSO) by 71.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 884 shares of the construction company’s stock after selling 2,194 shares during the period. Citizens Financial Group Inc. RI’s holdings in Watsco were worth $321,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Torren Management LLC bought a new position in Watsco during the fourth quarter valued at $26,000. Bayban bought a new stake in shares of Watsco in the 4th quarter worth about $29,000. Bamco Inc. NY bought a new stake in shares of Watsco in the 4th quarter worth about $35,000. Laurel Wealth Advisors LLC purchased a new position in shares of Watsco during the 4th quarter worth about $37,000. Finally, Quarry LP bought a new position in Watsco during the 4th quarter valued at about $37,000. 89.71% of the stock is currently owned by institutional investors.

Watsco Price Performance

Shares of WSO opened at $384.98 on Friday. The firm has a market capitalization of $15.65 billion, a price-to-earnings ratio of 31.95 and a beta of 1.02. Watsco, Inc. has a 1-year low of $323.05 and a 1-year high of $494.94. The company has a 50-day moving average of $390.35 and a 200 day moving average of $392.55.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, April 28th. The construction company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.14. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.49 billion. Watsco had a net margin of 6.85% and a return on equity of 15.31%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.93 EPS. On average, equities analysts anticipate that Watsco, Inc. will post 12.81 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 16th will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 3.4%. The ex-dividend date is Thursday, July 16th. Watsco’s dividend payout ratio (DPR) is presently 109.54%.

Analyst Upgrades and Downgrades

WSO has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Watsco from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Morgan Stanley upped their target price on Watsco from $370.00 to $405.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. Stephens increased their price target on Watsco from $475.00 to $485.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. DA Davidson assumed coverage on Watsco in a report on Tuesday, June 16th. They issued a “neutral” rating and a $385.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Watsco in a research note on Friday, June 26th. One investment analyst has rated the stock with a Buy rating and nine have issued 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 $402.71.

About Watsco

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.