Watsco, Inc. (NYSE:WSO) Shares Purchased by Capital Advisors Inc. OK

Capital Advisors Inc. OK raised its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 1.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 59,909 shares of the construction company's stock after buying an additional 621 shares during the quarter. Capital Advisors Inc. OK owned approximately 0.15% of Watsco worth $30,452,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Watsco in the first quarter valued at $25,000. Manitou Investment Management Ltd. bought a new stake in Watsco in the first quarter valued at $25,000. City Holding Co. bought a new stake in Watsco in the first quarter valued at $29,000. Rossby Financial LCC bought a new stake in Watsco in the first quarter valued at $33,000. Finally, Rialto Wealth Management LLC bought a new stake in Watsco in the fourth quarter valued at $31,000. 89.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WSO has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. UBS Group cut their target price on Watsco from $455.00 to $450.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 25th. Robert W. Baird cut their target price on Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Mizuho set a $490.00 price objective on shares of Watsco in a research note on Thursday, April 24th. Finally, Morgan Stanley set a $505.00 target price on shares of Watsco in a research report on Wednesday, July 2nd. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Watsco presently has a consensus rating of "Hold" and an average target price of $484.17.

Watsco Trading Up 1.0%

NYSE:WSO traded up $4.81 during midday trading on Thursday, hitting $477.82. 485,217 shares of the stock were exchanged, compared to its average volume of 261,849. Watsco, Inc. has a one year low of $418.31 and a one year high of $571.42. The company has a market capitalization of $19.36 billion, a price-to-earnings ratio of 36.73 and a beta of 1.04. The business has a 50-day moving average price of $453.06 and a two-hundred day moving average price of $477.27.

Watsco (NYSE:WSO - Get Free Report) last announced 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). Watsco had a return on equity of 17.13% and a net margin of 6.98%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the firm earned $2.17 EPS. Watsco's revenue for the quarter was down 2.2% on a year-over-year basis. Sell-side analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 16th will be issued a dividend of $3.00 per share. The ex-dividend date is Wednesday, July 16th. This represents a $12.00 annualized dividend and a yield of 2.51%. Watsco's payout ratio is 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.