Oppenheimer & Co. Inc. Boosts Stock Position in Watsco, Inc. (NYSE:WSO)

Oppenheimer & Co. Inc. boosted its position in Watsco, Inc. (NYSE:WSO - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,094 shares of the construction company's stock after buying an additional 783 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Watsco were worth $5,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in Watsco in the first quarter worth approximately $25,000. Manitou Investment Management Ltd. purchased a new stake in shares of Watsco in the 1st quarter valued at $25,000. City Holding Co. purchased a new stake in Watsco during the first quarter valued at about $29,000. Rialto Wealth Management LLC purchased a new stake in Watsco during the fourth quarter valued at about $31,000. Finally, ST Germain D J Co. Inc. boosted its position in 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 buying an additional 52 shares during the period. Hedge funds and other institutional investors own 89.71% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on WSO shares. UBS Group cut their price target 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. Loop Capital increased their price objective on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research note on Thursday, February 27th. Wall Street Zen raised Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Morgan Stanley assumed coverage on Watsco in a research note on Monday, April 14th. They set an "equal weight" rating and a $515.00 price objective for the company. Finally, Robert W. Baird dropped their price target on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Watsco has an average rating of "Hold" and a consensus price target of $486.67.

Watsco Stock Up 0.4%

Shares of WSO stock opened at $431.07 on Wednesday. The stock has a fifty day moving average of $458.82 and a 200 day moving average of $481.28. Watsco, Inc. has a 52 week low of $419.91 and a 52 week high of $571.42. The firm has a market capitalization of $17.46 billion, a price-to-earnings ratio of 33.13 and a beta of 1.06.

Watsco (NYSE:WSO - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.36). Watsco had a return on equity of 17.13% and a net margin of 6.98%. The company had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.66 billion. During the same period in the prior year, the business posted $2.17 earnings per share. The company's revenue for the quarter was down 2.2% on a year-over-year basis. Equities research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a $3.00 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This is a positive change from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a yield of 2.78%. Watsco's dividend payout ratio (DPR) is 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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