Amundi Has $12.98 Million Stock Position in Watsco, Inc. $WSO

Key Points

• Amundi increased its stake in Watsco, Inc. by 5.2% during the first quarter, owning approximately $12.98 million worth of shares after acquiring an additional 1,313 shares.
• Watsco reported a quarterly earnings miss, with earnings per share of $4.52, falling short of the $4.84 consensus estimate, and a revenue of $2.06 billion, down 3.6% year-over-year.
• The company declared a quarterly dividend of $3.00 per share, resulting in an annualized dividend of $12.00 and a yield of 3.0%, with a dividend payout ratio of 92.02%.

Amundi raised its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 5.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,348 shares of the construction company's stock after acquiring an additional 1,313 shares during the quarter. Amundi owned approximately 0.07% of Watsco worth $12,977,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Opal Wealth Advisors LLC bought a new position in shares of Watsco in the first quarter valued at $25,000. Manitou Investment Management Ltd. bought a new position in shares of Watsco in the first quarter valued at $25,000. WPG Advisers LLC bought a new position in shares of Watsco in the first quarter valued at $25,000. TCTC Holdings LLC grew its stake in shares of Watsco by 115.4% in the first quarter. TCTC Holdings LLC now owns 56 shares of the construction company's stock valued at $28,000 after buying an additional 30 shares in the last quarter. Finally, City Holding Co. bought a new position in shares of Watsco in the first quarter valued at $29,000. 89.71% of the stock is owned by institutional investors.

Watsco Price Performance

WSO stock traded down $15.58 during midday trading on Friday, reaching $381.84. 713,532 shares of the company were exchanged, compared to its average volume of 345,967. The business has a 50-day moving average price of $433.70 and a two-hundred day moving average price of $460.02. Watsco, Inc. has a one year low of $378.35 and a one year high of $571.41. The firm has a market capitalization of $15.48 billion, a price-to-earnings ratio of 29.28 and a beta of 0.95.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The construction company reported $4.52 EPS for the quarter, missing analysts' consensus estimates of $4.84 by ($0.32). Watsco had a return on equity of 16.96% and a net margin of 7.08%.The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the firm earned $4.49 earnings per share. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Wednesday, July 16th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, July 16th. Watsco's payout ratio is 92.02%.

Wall Street Analysts Forecast Growth

WSO has been the subject of several analyst reports. UBS Group decreased their target price on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a research note on Wednesday, June 25th. JPMorgan Chase & Co. raised their target price on shares of Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. Finally, Morgan Stanley set a $505.00 target price on shares of Watsco in a research note on Wednesday, July 2nd. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $484.17.

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.