Yarbrough Capital LLC purchased a new stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 716 shares of the construction company's stock, valued at approximately $364,000.
A number of other institutional investors have also recently made changes to their positions in WSO. Procyon Advisors LLC raised its position in shares of Watsco by 6.3% in the first quarter. Procyon Advisors LLC now owns 3,127 shares of the construction company's stock valued at $1,589,000 after purchasing an additional 184 shares during the period. Curat Global LLC purchased a new stake in shares of Watsco in the first quarter worth $234,000. Breakwater Capital Group raised its position in shares of Watsco by 5.9% in the first quarter. Breakwater Capital Group now owns 520 shares of the construction company's stock worth $264,000 after buying an additional 29 shares in the last quarter. Thrive Wealth Management LLC raised its position in shares of Watsco by 17.3% in the first quarter. Thrive Wealth Management LLC now owns 725 shares of the construction company's stock worth $369,000 after buying an additional 107 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Watsco by 6.8% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 923 shares of the construction company's stock worth $469,000 after purchasing an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company's stock.
Watsco Stock Performance
Shares of NYSE WSO traded down $5.05 during midday trading on Wednesday, hitting $444.81. 166,669 shares of the stock traded hands, compared to its average volume of 256,749. The firm has a 50-day moving average of $470.94 and a two-hundred day moving average of $489.27. The firm has a market capitalization of $18.02 billion, a P/E ratio of 33.57 and a beta of 1.06. Watsco, Inc. has a one year low of $430.20 and a one year high of $571.42.
Watsco (NYSE:WSO - Get Free Report) last released its quarterly 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 net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.66 billion. During the same period in the previous year, the company earned $2.17 EPS. Watsco's revenue for the quarter was down 2.2% compared to the same quarter last year. Equities analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.
Watsco Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were given a dividend of $3.00 per share. The ex-dividend date was Tuesday, April 15th. This represents a $12.00 annualized dividend and a dividend yield of 2.70%. This is a boost from Watsco's previous quarterly dividend of $2.70. Watsco's dividend payout ratio (DPR) is currently 92.24%.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on WSO shares. Loop Capital lifted their target price on shares of Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. increased their price objective on Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. Mizuho set a $490.00 target price on Watsco in a report on Thursday, April 24th. Morgan Stanley assumed coverage on Watsco in a report on Monday, April 14th. They issued an "equal weight" rating and a $515.00 target price on the stock. Finally, Robert W. Baird dropped their target price on Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $486.67.
Check Out Our Latest Research Report on WSO
Watsco Company Profile
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Free Report)
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.
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