Achmea Investment Management B.V. Has $9.12 Million Stock Position in Watsco, Inc. (NYSE:WSO)

Achmea Investment Management B.V. boosted its position in Watsco, Inc. (NYSE:WSO - Free Report) by 27.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,949 shares of the construction company's stock after buying an additional 3,871 shares during the quarter. Achmea Investment Management B.V.'s holdings in Watsco were worth $9,123,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WSO. Penobscot Investment Management Company Inc. acquired a new position in shares of Watsco in the first quarter worth about $203,000. HBK Sorce Advisory LLC acquired a new stake in shares of Watsco in the 1st quarter valued at about $233,000. Golden State Wealth Management LLC lifted its position in shares of Watsco by 109.4% during the first quarter. Golden State Wealth Management LLC now owns 222 shares of the construction company's stock worth $113,000 after purchasing an additional 116 shares during the last quarter. Mattern Capital Management LLC grew its position in shares of Watsco by 5.0% in the 1st quarter. Mattern Capital Management LLC now owns 1,218 shares of the construction company's stock worth $619,000 after acquiring an additional 58 shares in the last quarter. Finally, Berry Wealth Group LP raised its position in shares of Watsco by 37.8% during the 1st quarter. Berry Wealth Group LP now owns 638 shares of the construction company's stock valued at $324,000 after acquiring an additional 175 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Up 3.3%

Shares of Watsco stock traded up $14.62 during midday trading on Tuesday, hitting $456.24. The company's stock had a trading volume of 307,713 shares, compared to its average volume of 259,664. Watsco, Inc. has a 1-year low of $418.31 and a 1-year high of $571.42. The stock has a 50-day simple moving average of $453.34 and a 200-day simple moving average of $478.77. The firm has a market capitalization of $18.48 billion, a P/E ratio of 35.07 and a beta of 1.06.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing analysts' consensus estimates of $2.29 by ($0.36). Watsco had a net margin of 6.98% and a return on equity of 17.13%. The company 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 firm posted $2.17 earnings per share. The business's revenue for the quarter was down 2.2% on a year-over-year basis. As a group, sell-side analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 16th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.63%. Watsco's payout ratio is presently 92.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Robert W. Baird cut their target price on Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen upgraded Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. 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 report on Tuesday, May 27th. Morgan Stanley initiated coverage on shares of Watsco in a research report on Monday, April 14th. They issued an "equal weight" rating and a $515.00 target price for the company. Finally, Mizuho set a $490.00 price target on shares of Watsco in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $485.83.

Watsco Company Profile

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.