Yarbrough Capital LLC Invests $364,000 in Watsco, Inc. (NYSE:WSO)

Yarbrough Capital LLC bought a new position in shares of Watsco, Inc. (NYSE:WSO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 716 shares of the construction company's stock, valued at approximately $364,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WSO. JPMorgan Chase & Co. raised its stake in Watsco by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company's stock worth $228,263,000 after purchasing an additional 41,845 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of Watsco by 8.5% during the 4th quarter. Bleakley Financial Group LLC now owns 674 shares of the construction company's stock worth $319,000 after buying an additional 53 shares during the last quarter. Empowered Funds LLC raised its position in shares of Watsco by 13.2% in the 4th quarter. Empowered Funds LLC now owns 5,695 shares of the construction company's stock worth $2,699,000 after buying an additional 664 shares during the period. Jones Financial Companies Lllp boosted its holdings in Watsco by 81.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,178 shares of the construction company's stock valued at $558,000 after acquiring an additional 527 shares during the last quarter. Finally, Principal Securities Inc. grew its position in Watsco by 6.9% during the fourth quarter. Principal Securities Inc. now owns 373 shares of the construction company's stock valued at $177,000 after acquiring an additional 24 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Performance

Shares of Watsco stock traded down $1.40 during trading on Monday, reaching $444.04. The company had a trading volume of 30,389 shares, compared to its average volume of 256,190. The company has a market cap of $17.99 billion, a price-to-earnings ratio of 33.52 and a beta of 1.06. Watsco, Inc. has a fifty-two week low of $430.20 and a fifty-two week high of $571.42. The firm's fifty day moving average is $473.33 and its 200-day moving average is $490.32.

Watsco (NYSE:WSO - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.36). Watsco had a return on equity of 17.59% and a net margin of 7.04%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the business posted $2.17 EPS. Watsco's revenue was down 2.2% compared to the same quarter last year. On average, research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were given a $3.00 dividend. This is an increase from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Tuesday, April 15th. Watsco's dividend payout ratio (DPR) is presently 92.24%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WSO. Wall Street Zen upgraded Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Loop Capital raised their price objective on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research report on Thursday, February 27th. Morgan Stanley initiated coverage on shares of Watsco in a research note on Monday, April 14th. They set an "equal weight" rating and a $515.00 price objective on the stock. UBS Group decreased their price objective on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. boosted their price target on Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 27th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $486.67.

About Watsco

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.