Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $17.18 Million Stock Position in Watsco, Inc. (NYSE:WSO)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,797 shares of the construction company's stock after selling 790 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.08% of Watsco worth $17,179,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of WSO. Manitou Investment Management Ltd. acquired a new position in Watsco during the first quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new position in Watsco during the 1st quarter worth approximately $25,000. City Holding Co. acquired a new position in Watsco during the 1st quarter worth approximately $29,000. Rialto Wealth Management LLC bought a new position in Watsco in the 4th quarter valued at approximately $31,000. Finally, ST Germain D J Co. Inc. boosted its position 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 buying an additional 52 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Trading Up 2.4%

Shares of WSO opened at $433.60 on Friday. The stock's 50-day moving average price is $455.86 and its two-hundred day moving average price is $480.27. Watsco, Inc. has a 12 month low of $418.31 and a 12 month high of $571.42. The company has a market capitalization of $17.57 billion, a PE ratio of 33.33 and a beta of 1.06.

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

Watsco Increases Dividend

The company 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 a positive change from Watsco's previous quarterly dividend of $2.70. The ex-dividend date was Tuesday, April 15th. This represents a $12.00 annualized dividend and a yield of 2.77%. Watsco's dividend payout ratio (DPR) is presently 92.24%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on WSO shares. JPMorgan Chase & Co. upped their price target on shares of Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. Wall Street Zen raised Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Mizuho set a $490.00 target price on Watsco in a research report on Thursday, April 24th. Loop Capital boosted their price target on Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a report on Thursday, February 27th. Finally, Robert W. Baird lowered their price objective on Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average 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.

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