B. Metzler seel. Sohn & Co. AG Purchases 617 Shares of Watsco, Inc. $WSO

Key Points

• B. Metzler seel. Sohn & Co. AG increased its holdings in Watsco, Inc., buying 617 additional shares, which raised its stake by 3.4% to a total of 18,950 shares valued at $9,632,000.
• The stock currently has a consensus rating of "Hold" from analysts, with an average target price of $484.17, following several recent upgrades and downgrades.
• Watsco recently declared a quarterly dividend of $3.00 per share, representing an annualized yield of 2.9%, with a dividend payout ratio of 92.02%.

B. Metzler seel. Sohn & Co. AG increased its position in Watsco, Inc. (NYSE:WSO - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,950 shares of the construction company's stock after buying an additional 617 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Watsco were worth $9,632,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new position in shares of Watsco in the first quarter worth $25,000. Manitou Investment Management Ltd. purchased a new position in shares of Watsco in the first quarter worth $25,000. TCTC Holdings LLC increased 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 worth $28,000 after buying an additional 30 shares during the period. City Holding Co. purchased a new position in shares of Watsco in the first quarter worth $29,000. Finally, Rossby Financial LCC purchased a new position in shares of Watsco in the first quarter worth $33,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. UBS Group decreased their target price on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 25th. Morgan Stanley set a $505.00 price objective on shares of Watsco in a research report on Wednesday, July 2nd. Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $484.17.

Watsco Stock Down 2.2%

Shares of WSO stock traded down $8.98 during mid-day trading on Tuesday, reaching $393.41. 86,330 shares of the company's stock traded hands, compared to its average volume of 300,872. Watsco, Inc. has a 12 month low of $393.41 and a 12 month high of $571.41. The company has a market cap of $15.95 billion, a P/E ratio of 30.21 and a beta of 0.96. The company's 50-day moving average price is $442.01 and its 200-day moving average price is $466.44.

Watsco (NYSE:WSO - Get Free Report) last announced its earnings results 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 net margin of 7.08% and a return on equity of 16.96%. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the firm posted $4.49 EPS. The business's quarterly revenue was down 3.6% on a year-over-year basis. Equities analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

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