LPL Financial LLC Raises Holdings in Watsco, Inc. (NYSE:WSO)

LPL Financial LLC boosted its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,338 shares of the construction company's stock after acquiring an additional 781 shares during the quarter. LPL Financial LLC owned 0.07% of Watsco worth $14,404,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of WSO. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Watsco by 0.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,270 shares of the construction company's stock worth $6,745,000 after purchasing an additional 119 shares during the period. Spectrum Wealth Counsel LLC increased its holdings in Watsco by 0.3% during the first quarter. Spectrum Wealth Counsel LLC now owns 11,614 shares of the construction company's stock valued at $5,903,000 after buying an additional 31 shares during the last quarter. TD Asset Management Inc raised its position in Watsco by 2.5% in the first quarter. TD Asset Management Inc now owns 6,675 shares of the construction company's stock worth $3,393,000 after acquiring an additional 165 shares during the period. HB Wealth Management LLC raised its position in Watsco by 76.9% in the first quarter. HB Wealth Management LLC now owns 1,339 shares of the construction company's stock worth $681,000 after acquiring an additional 582 shares during the period. Finally, Stevens Capital Management LP purchased a new position in shares of Watsco during the 1st quarter worth $315,000. Institutional investors own 89.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. UBS Group reduced their price objective on Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a research note on Wednesday, June 25th. Robert W. Baird cut 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. JPMorgan Chase & Co. upped their price target on Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Wall Street Zen raised Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Finally, Morgan Stanley set a $505.00 price objective on Watsco in a research report on Wednesday, July 2nd. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Watsco has a consensus rating of "Hold" and a consensus target price of $484.17.

Watsco Stock Down 0.4%

WSO stock traded down $1.75 during trading on Thursday, reaching $416.31. The company's stock had a trading volume of 535,685 shares, compared to its average volume of 358,394. The company's fifty day moving average is $449.84 and its 200-day moving average is $474.71. The company has a market capitalization of $16.86 billion, a P/E ratio of 31.93 and a beta of 0.95. Watsco, Inc. has a 1 year low of $413.99 and a 1 year high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last released its earnings results on Wednesday, July 30th. The construction company reported $4.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.84 by ($0.32). Watsco had a return on equity of 16.96% and a net margin of 7.08%. The business had revenue of $2.06 billion for the quarter, compared to analysts' expectations of $2.24 billion. During the same quarter in the prior year, the business posted $4.49 EPS. The business's revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Wednesday, July 16th were given a dividend of $3.00 per share. The ex-dividend date was Wednesday, July 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.9%. Watsco's dividend payout ratio is currently 92.02%.

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.