Chicago Capital LLC Acquires 922 Shares of Watsco, Inc. (NYSE:WSO)

Chicago Capital LLC increased its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 43.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,045 shares of the construction company's stock after buying an additional 922 shares during the period. Chicago Capital LLC's holdings in Watsco were worth $1,548,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Rhumbline Advisers increased its stake in shares of Watsco by 1.5% in the fourth quarter. Rhumbline Advisers now owns 106,391 shares of the construction company's stock valued at $50,418,000 after buying an additional 1,601 shares during the period. Principal Securities Inc. boosted its holdings in Watsco by 6.9% in the fourth quarter. Principal Securities Inc. now owns 373 shares of the construction company's stock valued at $177,000 after acquiring an additional 24 shares during the last quarter. CIBC Asset Management Inc increased its position in Watsco by 4.2% during the 4th quarter. CIBC Asset Management Inc now owns 2,170 shares of the construction company's stock valued at $1,028,000 after purchasing an additional 87 shares during the period. D.A. Davidson & CO. raised its holdings in Watsco by 0.6% during the 4th quarter. D.A. Davidson & CO. now owns 9,139 shares of the construction company's stock worth $4,331,000 after purchasing an additional 55 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in Watsco by 5.4% during the 4th quarter. Venturi Wealth Management LLC now owns 865 shares of the construction company's stock worth $410,000 after purchasing an additional 44 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

Watsco Stock Down 0.2%

WSO traded down $0.68 during midday trading on Thursday, hitting $423.61. The company had a trading volume of 295,473 shares, compared to its average volume of 256,926. The stock's 50 day moving average price is $463.89 and its 200 day moving average price is $483.81. Watsco, Inc. has a 52 week low of $422.99 and a 52 week high of $571.42. The company has a market capitalization of $17.16 billion, a price-to-earnings ratio of 32.56 and a beta of 1.06.

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

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were issued a dividend of $3.00 per share. This is an increase from Watsco's previous quarterly dividend of $2.70. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $12.00 annualized dividend and a dividend yield of 2.83%. Watsco's payout ratio is currently 92.24%.

Wall Street Analysts Forecast Growth

WSO has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Loop Capital upped their price target on shares of Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research report on Thursday, February 27th. Robert W. Baird decreased their price target on Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Morgan Stanley began coverage on Watsco in a research note on Monday, April 14th. They issued an "equal weight" rating and a $515.00 price objective on the stock. Finally, Mizuho set a $490.00 target price on Watsco in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $486.67.

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.