ASR Vermogensbeheer N.V. Invests $349,000 in Watsco, Inc. (NYSE:WSO)

Key Points

• ASR Vermogensbeheer N.V. has made a new investment of $349,000 in Watsco, Inc. by acquiring 686 shares during the first quarter.
• Watsco reported a quarterly earnings per share (EPS) of $4.52, falling short of the consensus estimate of $4.84, with a revenue decline of 3.6% compared to the same quarter last year.
• The company recently declared a quarterly dividend of $3.00, which translates to an annualized dividend of $12.00 and a yield of 2.9%.

ASR Vermogensbeheer N.V. bought a new stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 686 shares of the construction company's stock, valued at approximately $349,000.

Several other hedge funds and other institutional investors have also made changes to their positions in WSO. OneDigital Investment Advisors LLC bought a new stake in shares of Watsco in the 1st quarter worth about $266,000. Teacher Retirement System of Texas bought a new stake in shares of Watsco in the 1st quarter worth about $2,588,000. Golden State Wealth Management LLC increased its position in shares of Watsco by 109.4% in the 1st 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. SG Americas Securities LLC increased its position in shares of Watsco by 133.1% in the 1st quarter. SG Americas Securities LLC now owns 844 shares of the construction company's stock worth $429,000 after purchasing an additional 482 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Watsco by 4.8% in the 1st quarter. Fifth Third Bancorp now owns 1,028 shares of the construction company's stock worth $523,000 after purchasing an additional 47 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WSO shares. Mizuho set a $490.00 target price on shares of Watsco in a research report on Thursday, April 24th. Morgan Stanley set a $505.00 target price on shares of Watsco in a research report on Wednesday, July 2nd. Robert W. Baird dropped their target price on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. UBS Group lowered their price objective on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a research report on Wednesday, June 25th. Finally, Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $484.17.

Watsco Stock Down 1.0%

Watsco stock traded down $4.01 during mid-day trading on Friday, reaching $417.61. The company had a trading volume of 43,690 shares, compared to its average volume of 300,944. Watsco, Inc. has a 52 week low of $403.01 and a 52 week high of $571.41. The company has a 50 day moving average of $447.68 and a 200-day moving average of $472.01. The firm has a market cap of $16.92 billion, a price-to-earnings ratio of 32.05 and a beta of 0.95.

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

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, July 16th. Watsco's dividend payout ratio (DPR) is 92.02%.

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.