KBC Group NV Sells 1,577 Shares of Watsco, Inc. (NYSE:WSO)

KBC Group NV lowered its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 25.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,668 shares of the construction company's stock after selling 1,577 shares during the quarter. KBC Group NV's holdings in Watsco were worth $2,372,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in shares of Watsco during the 1st quarter worth $25,000. Manitou Investment Management Ltd. acquired a new position in Watsco during the 1st quarter worth $25,000. City Holding Co. bought a new stake in Watsco during the first quarter valued at about $29,000. Rialto Wealth Management LLC acquired a new stake in shares of Watsco in the fourth quarter valued at about $31,000. Finally, ST Germain D J Co. Inc. increased its stake in shares of Watsco by 260.0% in the first quarter. ST Germain D J Co. Inc. now owns 72 shares of the construction company's stock worth $37,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 89.71% of the company's stock.

Watsco Stock Up 0.2%

WSO traded up $0.77 during trading on Friday, reaching $457.32. 114,251 shares of the company's stock were exchanged, compared to its average volume of 259,485. The company has a market capitalization of $18.53 billion, a P/E ratio of 35.15 and a beta of 1.04. The business has a 50 day moving average price of $452.67 and a 200 day moving average price of $478.11. Watsco, Inc. has a fifty-two week low of $418.31 and a fifty-two week high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($0.36). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Watsco had a net margin of 6.98% and a return on equity of 17.13%. Watsco's revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.17 earnings per share. As a group, research analysts forecast that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.62%. Watsco's dividend payout ratio is currently 92.24%.

Analyst Ratings Changes

WSO has been the topic of a number of research analyst reports. UBS Group lowered their target price on Watsco from $455.00 to $450.00 and set a "neutral" rating on the stock in a report on Wednesday, June 25th. Mizuho set a $490.00 price objective on shares of Watsco in a research note on Thursday, April 24th. JPMorgan Chase & Co. upped their target price on shares of Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. Morgan Stanley set a $505.00 price target on shares of Watsco in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $484.17.

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.