Mackenzie Financial Corp Has $1.04 Million Holdings in Watsco, Inc. (NYSE:WSO)

Key Points

• Mackenzie Financial Corp has reduced its stake in Watsco, Inc. by 60.2%, now holding 2,053 shares worth approximately $1.04 million.
• Watsco's stock is currently trading at $418.14 after a 2.4% decline, with a market capitalization of $16.94 billion.
• The company recently announced a quarterly $3.00 dividend, with a yield of 2.9% and a dividend payout ratio of 92.02%.

Mackenzie Financial Corp lowered its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 60.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,053 shares of the construction company's stock after selling 3,105 shares during the period. Mackenzie Financial Corp's holdings in Watsco were worth $1,044,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of WSO. Centennial Wealth Advisory LLC grew its holdings in Watsco by 2.9% during the first quarter. Centennial Wealth Advisory LLC now owns 776 shares of the construction company's stock valued at $395,000 after purchasing an additional 22 shares during the period. Valeo Financial Advisors LLC boosted its position in shares of Watsco by 2.3% during the first quarter. Valeo Financial Advisors LLC now owns 1,056 shares of the construction company's stock worth $537,000 after purchasing an additional 24 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Watsco by 4.6% in the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the construction company's stock valued at $290,000 after buying an additional 25 shares during the period. Bessemer Group Inc. increased its position in shares of Watsco by 8.3% in the 4th quarter. Bessemer Group Inc. now owns 341 shares of the construction company's stock valued at $162,000 after buying an additional 26 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its stake in Watsco by 7.2% during the 1st quarter. Cullen Frost Bankers Inc. now owns 400 shares of the construction company's stock worth $203,000 after buying an additional 27 shares during the period. Institutional investors and hedge funds own 89.71% of the company's stock.

Watsco Stock Performance

Watsco stock traded down $1.75 during mid-day trading on Thursday, reaching $416.31. The company's stock had a trading volume of 535,685 shares, compared to its average volume of 303,960. Watsco, Inc. has a 12 month low of $413.99 and a 12 month high of $571.41. The business's 50 day simple moving average is $450.42 and its 200 day simple moving average is $475.26. The company has a market capitalization of $16.86 billion, a price-to-earnings ratio of 31.93 and a beta of 0.95.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The construction company reported $4.52 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.32). Watsco had a net margin of 7.08% and a return on equity of 16.96%. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the business earned $4.49 EPS. Watsco's revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts expect that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have issued reports on WSO. Morgan Stanley set a $505.00 price target on Watsco in a report on Wednesday, July 2nd. JPMorgan Chase & Co. increased their price objective on shares of Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Mizuho set a $490.00 price objective on shares of Watsco in a research report on Thursday, April 24th. Wall Street Zen upgraded Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Finally, UBS Group dropped their price target on Watsco from $455.00 to $450.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 25th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $484.17.

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.