Mirae Asset Global Investments Co. Ltd. Has $14.34 Million Stock Position in Watsco, Inc. (NYSE:WSO)

Mirae Asset Global Investments Co. Ltd. increased its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 13.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,570 shares of the construction company's stock after acquiring an additional 3,391 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.07% of Watsco worth $14,339,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Mizuho set a $490.00 target price on Watsco in a report on Thursday, April 24th. UBS Group cut their target price on Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a research report on Wednesday, June 25th. Robert W. Baird dropped their price target on Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Morgan Stanley set a $505.00 price target on Watsco in a report on Wednesday. Finally, Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $484.17.

Watsco Stock Up 0.3%

Shares of WSO traded up $1.23 during mid-day trading on Wednesday, hitting $456.82. 288,148 shares of the company's stock were exchanged, compared to its average volume of 259,724. The stock has a market cap of $18.51 billion, a price-to-earnings ratio of 35.11 and a beta of 1.04. The firm has a fifty day moving average of $452.57 and a two-hundred day moving average of $478.46. Watsco, Inc. has a twelve month low of $418.31 and a twelve month high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last posted 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). Watsco had a net margin of 6.98% and a return on equity of 17.13%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the business earned $2.17 earnings per share. Watsco's quarterly revenue was down 2.2% on a year-over-year basis. On average, equities analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Wednesday, July 16th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.63%. Watsco's dividend payout ratio (DPR) is currently 92.24%.

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.