Conestoga Capital Advisors LLC Increases Holdings in Watsco, Inc. (NYSE:WSO)

Conestoga Capital Advisors LLC raised its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,192 shares of the construction company's stock after buying an additional 7,360 shares during the quarter. Conestoga Capital Advisors LLC owned approximately 0.26% of Watsco worth $53,469,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Watsco by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 3,618,109 shares of the construction company's stock valued at $1,714,586,000 after purchasing an additional 52,127 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Watsco by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company's stock valued at $649,957,000 after buying an additional 118,713 shares during the period. Geode Capital Management LLC increased its holdings in shares of Watsco by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 725,186 shares of the construction company's stock worth $343,168,000 after buying an additional 20,856 shares during the last quarter. Markel Group Inc. increased its holdings in shares of Watsco by 1.4% during the 4th quarter. Markel Group Inc. now owns 590,500 shares of the construction company's stock worth $279,832,000 after buying an additional 8,000 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Watsco by 89,376.0% during the 1st quarter. GAMMA Investing LLC now owns 477,802 shares of the construction company's stock valued at $242,867,000 after buying an additional 477,268 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Performance

NYSE WSO opened at $429.73 on Tuesday. The firm has a market cap of $17.41 billion, a price-to-earnings ratio of 32.43 and a beta of 1.06. The firm has a 50 day simple moving average of $468.47 and a 200-day simple moving average of $485.49. Watsco, Inc. has a one year low of $426.89 and a one year high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last issued its quarterly 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 net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.66 billion. During the same period in the prior year, the business earned $2.17 EPS. The business's quarterly revenue was down 2.2% on a year-over-year basis. Equities analysts predict that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders 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 yield of 2.79%. Watsco's dividend payout ratio is 92.24%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WSO. Loop Capital increased their price objective on Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research report on Thursday, February 27th. Wall Street Zen upgraded Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Mizuho set a $490.00 price objective on shares of Watsco in a report on Thursday, April 24th. Morgan Stanley initiated coverage on shares of Watsco in a research note on Monday, April 14th. They set an "equal weight" rating and a $515.00 target price for the company. Finally, UBS Group reduced their price target on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Watsco currently has an average rating of "Hold" and an average 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.

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