Achmea Investment Management B.V. Acquires 3,871 Shares of Watsco, Inc. (NYSE:WSO)

Achmea Investment Management B.V. raised its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 27.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,949 shares of the construction company's stock after acquiring an additional 3,871 shares during the period. Achmea Investment Management B.V.'s holdings in Watsco were worth $9,123,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Manitou Investment Management Ltd. bought a new position in shares of Watsco during the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new position in Watsco during the 1st quarter worth approximately $25,000. City Holding Co. bought a new position in Watsco during the 1st quarter worth approximately $29,000. Rialto Wealth Management LLC bought a new stake in shares of Watsco in the 4th quarter worth approximately $31,000. Finally, ST Germain D J Co. Inc. grew its position in shares of Watsco by 260.0% in the 1st quarter. ST Germain D J Co. Inc. now owns 72 shares of the construction company's stock worth $37,000 after buying an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Robert W. Baird cut their price objective on Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price objective 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 began coverage on Watsco in a research note on Monday, April 14th. They issued an "equal weight" rating and a $515.00 target price for the company. Wall Street Zen upgraded Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Mizuho set a $490.00 price target on Watsco in a research report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $485.83.

Watsco Trading Up 0.3%

Watsco stock traded up $1.15 during mid-day trading on Friday, hitting $435.58. The company had a trading volume of 801,122 shares, compared to its average volume of 258,702. The stock's 50 day moving average price is $454.41 and its two-hundred day moving average price is $479.47. Watsco, Inc. has a 12 month low of $418.31 and a 12 month high of $571.42. The company has a market capitalization of $17.65 billion, a PE ratio of 33.48 and a beta of 1.06.

Watsco (NYSE:WSO - Get Free Report) last released 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). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.66 billion. Watsco had a return on equity of 17.13% and a net margin of 6.98%. The company's revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted $2.17 earnings per share. Equities research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current 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 issued a dividend of $3.00 per share. 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 2.75%. The ex-dividend date of this dividend was Tuesday, April 15th. Watsco's dividend payout ratio is presently 92.24%.

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.