PAX Financial Group LLC Acquires New Holdings in Watsco, Inc. (NYSE:WSO)

PAX Financial Group LLC purchased a new stake in Watsco, Inc. (NYSE:WSO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 921 shares of the construction company's stock, valued at approximately $468,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OneDigital Investment Advisors LLC acquired a new position in Watsco in the 1st quarter valued at about $266,000. Teacher Retirement System of Texas purchased a new stake in Watsco during the first quarter worth approximately $2,588,000. Golden State Wealth Management LLC boosted its holdings in Watsco by 109.4% in the 1st quarter. Golden State Wealth Management LLC now owns 222 shares of the construction company's stock worth $113,000 after acquiring an additional 116 shares during the period. SG Americas Securities LLC lifted its holdings in Watsco by 133.1% in the 1st quarter. SG Americas Securities LLC now owns 844 shares of the construction company's stock worth $429,000 after buying an additional 482 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Watsco by 4.8% in the 1st quarter. Fifth Third Bancorp now owns 1,028 shares of the construction company's stock valued at $523,000 after purchasing an additional 47 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WSO. Morgan Stanley set a $505.00 target price on shares of Watsco in a report on Wednesday, July 2nd. UBS Group dropped their price objective on Watsco from $455.00 to $450.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 25th. Robert W. Baird decreased their target price on Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $484.17.

Watsco Stock Up 0.4%

Shares of Watsco stock traded up $1.92 on Thursday, hitting $473.67. 119,844 shares of the company traded hands, compared to its average volume of 260,919. Watsco, Inc. has a 12-month low of $418.31 and a 12-month high of $571.42. The company has a market cap of $19.19 billion, a PE ratio of 36.40 and a beta of 1.04. The company has a 50-day moving average price of $453.22 and a 200 day moving average price of $476.79.

Watsco (NYSE:WSO - Get Free Report) last issued its 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). Watsco had a net margin of 6.98% and a return on equity of 17.13%. The firm had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.66 billion. During the same quarter last year, the firm earned $2.17 EPS. The business's revenue for the quarter was down 2.2% compared to the same quarter last year. Equities research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

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 paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Wednesday, July 16th. Watsco's dividend payout ratio (DPR) is presently 92.24%.

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.