OLD National Bancorp IN Sells 1,100 Shares of Watsco, Inc. (NYSE:WSO)

OLD National Bancorp IN trimmed its position in Watsco, Inc. (NYSE:WSO - Free Report) by 21.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 3,997 shares of the construction company's stock after selling 1,100 shares during the period. OLD National Bancorp IN's holdings in Watsco were worth $2,032,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WSO. JPMorgan Chase & Co. grew its position in Watsco by 9.9% in the 3rd 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 in the last quarter. abrdn plc grew its position in Watsco by 0.4% in the 4th quarter. abrdn plc now owns 15,052 shares of the construction company's stock worth $7,174,000 after purchasing an additional 56 shares in the last quarter. Choreo LLC grew its position in Watsco by 115.5% in the 4th quarter. Choreo LLC now owns 2,293 shares of the construction company's stock worth $1,089,000 after purchasing an additional 1,229 shares in the last quarter. Bleakley Financial Group LLC grew its position in Watsco by 8.5% in the 4th quarter. Bleakley Financial Group LLC now owns 674 shares of the construction company's stock worth $319,000 after purchasing an additional 53 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in Watsco in the 4th quarter worth about $11,337,000. 89.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WSO. Mizuho set a $490.00 target price on shares of Watsco in a research report on Thursday, April 24th. Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. increased their target price on shares of Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. UBS Group reduced their target price on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Finally, Loop Capital increased their target price on shares of Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research report on Thursday, February 27th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $486.67.

Watsco Trading Up 0.6%

Shares of WSO stock opened at $445.13 on Monday. The stock has a market capitalization of $18.03 billion, a P/E ratio of 33.59 and a beta of 1.06. The firm's 50 day moving average is $473.33 and its 200 day moving average is $490.32. Watsco, Inc. has a 12 month low of $430.20 and a 12 month high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.93 EPS 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 analysts' expectations of $1.66 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.17 earnings per share. On average, equities analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

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

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