NBC Securities Inc. Acquires 1,125 Shares of Watsco, Inc. (NYSE:WSO)

NBC Securities Inc. lifted its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 112,500.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,126 shares of the construction company's stock after buying an additional 1,125 shares during the quarter. NBC Securities Inc.'s holdings in Watsco were worth $572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Watsco by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company's stock worth $228,263,000 after purchasing an additional 41,845 shares during the period. Bleakley Financial Group LLC grew its holdings in Watsco by 8.5% in the fourth quarter. Bleakley Financial Group LLC now owns 674 shares of the construction company's stock worth $319,000 after purchasing an additional 53 shares during the period. Empowered Funds LLC grew its holdings in Watsco by 13.2% in the fourth quarter. Empowered Funds LLC now owns 5,695 shares of the construction company's stock worth $2,699,000 after purchasing an additional 664 shares during the period. Jones Financial Companies Lllp grew its holdings in Watsco by 81.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,178 shares of the construction company's stock worth $558,000 after purchasing an additional 527 shares during the period. Finally, Caprock Group LLC purchased a new stake in Watsco in the fourth quarter worth about $249,000. Hedge funds and other institutional investors own 89.71% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WSO shares. Morgan Stanley started coverage on shares of Watsco in a report on Monday, April 14th. They issued an "equal weight" rating and a $515.00 price objective on the stock. Loop Capital upped their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research note on Thursday, February 27th. Wall Street Zen upgraded shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. UBS Group dropped their target price on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Finally, Robert W. Baird dropped their target price on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Watsco has a consensus rating of "Hold" and a consensus price target of $486.67.

Watsco Stock Up 0.6%

Shares of NYSE WSO traded up $2.76 during midday trading on Friday, hitting $445.13. The stock had a trading volume of 182,289 shares, compared to its average volume of 257,080. The company has a market cap of $18.03 billion, a P/E ratio of 33.59 and a beta of 1.06. The business's 50 day moving average is $473.33 and its 200-day moving average is $490.32. Watsco, Inc. has a 52 week low of $430.20 and a 52 week high of $571.42.

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 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 net margin of 7.04% and a return on equity of 17.59%. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned $2.17 EPS. As a group, analysts expect that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were given a dividend of $3.00 per share. This is an increase from Watsco's previous quarterly dividend of $2.70. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a yield of 2.70%. Watsco's dividend payout ratio is 92.24%.

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.