Watsco, Inc. (NYSE:WSO) Shares Purchased by NBC Securities Inc.

NBC Securities Inc. grew its position in Watsco, Inc. (NYSE:WSO - Free Report) by 112,500.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Watsco by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 3,618,109 shares of the construction company's stock valued at $1,714,586,000 after buying an additional 52,127 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Watsco by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company's stock valued at $649,957,000 after acquiring an additional 118,713 shares during the period. Geode Capital Management LLC lifted its stake in shares of Watsco by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 725,186 shares of the construction company's stock valued at $343,168,000 after purchasing an additional 20,856 shares during the period. Markel Group Inc. boosted its stake in shares of Watsco by 1.4% during the 4th quarter. Markel Group Inc. now owns 590,500 shares of the construction company's stock worth $279,832,000 after acquiring an additional 8,000 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Watsco by 89,376.0% in the first quarter. GAMMA Investing LLC now owns 477,802 shares of the construction company's stock valued at $242,867,000 after purchasing an additional 477,268 shares during the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Trading Up 0.6%

WSO stock traded up $2.76 during midday trading on Friday, hitting $445.13. 182,289 shares of the company's stock were exchanged, compared to its average volume of 257,342. The firm has a 50 day moving average price of $474.65 and a 200-day moving average price of $491.62. Watsco, Inc. has a 12-month low of $430.20 and a 12-month high of $571.42. The stock has a market capitalization of $18.03 billion, a price-to-earnings ratio of 33.59 and a beta of 1.11.

Watsco (NYSE:WSO - Get Free Report) last issued its earnings results 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 business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period last year, the company posted $2.17 earnings per share. On average, sell-side analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Mizuho set a $490.00 price target on shares of Watsco in a report on Thursday, April 24th. Loop Capital raised their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research report on Thursday, February 27th. Wall Street Zen upgraded shares of Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Robert W. Baird cut their price target 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. Finally, UBS Group lowered their price objective on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating for the company 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 company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $486.67.

Watsco 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.