Amalgamated Bank Sells 695 Shares of Watsco, Inc. (NYSE:WSO)

Amalgamated Bank reduced its position in Watsco, Inc. (NYSE:WSO - Free Report) by 4.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,299 shares of the construction company's stock after selling 695 shares during the period. Amalgamated Bank's holdings in Watsco were worth $8,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of WSO. Opal Wealth Advisors LLC bought a new stake in Watsco during the first quarter valued at approximately $25,000. Manitou Investment Management Ltd. purchased a new position in shares of Watsco during the 1st quarter worth $25,000. City Holding Co. bought a new stake in shares of Watsco during the 1st quarter valued at $29,000. Rialto Wealth Management LLC bought a new stake in shares of Watsco during the 4th quarter valued at $31,000. Finally, ST Germain D J Co. Inc. increased its stake 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 purchasing an additional 52 shares in the last quarter. Institutional investors own 89.71% of the company's stock.

Watsco Price Performance

Shares of NYSE WSO traded up $0.77 during mid-day trading on Thursday, reaching $457.32. The company's stock had a trading volume of 114,251 shares, compared to its average volume of 259,485. The firm has a market capitalization of $18.53 billion, a PE ratio of 35.15 and a beta of 1.04. The stock has a fifty day moving average of $452.67 and a two-hundred day moving average of $478.11. Watsco, Inc. has a 52 week low of $418.31 and a 52 week high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings results 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 return on equity of 17.13% and a net margin of 6.98%. The business had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.66 billion. During the same period in the prior year, the firm posted $2.17 earnings per share. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. Analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 16th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.62%. Watsco's dividend payout ratio is 92.24%.

Analysts Set New Price Targets

Several research firms recently weighed in on WSO. UBS Group lowered their target price on Watsco from $455.00 to $450.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 25th. JPMorgan Chase & Co. lifted their price objective on Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. Wall Street Zen upgraded Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Robert W. Baird decreased their target price on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Mizuho set a $490.00 price target on shares of Watsco in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $484.17.

Watsco 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.