GHP Investment Advisors Inc. Lowers Holdings in Watsco, Inc. (NYSE:WSO)

GHP Investment Advisors Inc. trimmed its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 13.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,082 shares of the construction company's stock after selling 927 shares during the quarter. GHP Investment Advisors Inc.'s holdings in Watsco were worth $3,091,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Watsco in the first quarter valued at approximately $25,000. Manitou Investment Management Ltd. acquired a new stake in Watsco during the 1st quarter valued at approximately $25,000. City Holding Co. bought a new position in shares of Watsco in the 1st quarter worth about $29,000. Rialto Wealth Management LLC acquired a new position in shares of Watsco during the 4th quarter valued at $31,000. Finally, ST Germain D J Co. Inc. grew its stake in Watsco by 260.0% in the first quarter. ST Germain D J Co. Inc. now owns 72 shares of the construction company's stock valued at $37,000 after acquiring an additional 52 shares during the period. 89.71% of the stock is owned by institutional investors.

Watsco Price Performance

Watsco stock traded down $7.61 during midday trading on Wednesday, reaching $423.60. 429,130 shares of the company traded hands, compared to its average volume of 257,065. The firm has a market capitalization of $17.16 billion, a price-to-earnings ratio of 32.56 and a beta of 1.06. The business has a 50 day moving average of $458.82 and a two-hundred day moving average of $481.28. Watsco, Inc. has a 12 month low of $418.34 and a 12 month high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last released its earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (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 during the quarter, compared to analysts' expectations of $1.66 billion. During the same period in the prior year, the company posted $2.17 earnings per share. The company's revenue was down 2.2% compared to the same quarter last year. As a group, equities analysts forecast that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.83%. The ex-dividend date was Tuesday, April 15th. This is a boost from Watsco's previous quarterly dividend of $2.70. Watsco's payout ratio is currently 92.24%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WSO. 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. UBS Group dropped their price objective on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a report on Wednesday. Morgan Stanley initiated coverage on Watsco in a report on Monday, April 14th. They issued an "equal weight" rating and a $515.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. Finally, Mizuho set a $490.00 price objective on Watsco in a research report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $485.83.

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.