Watsco, Inc. (NYSE:WSO) Position Increased by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. lifted its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,000 shares of the construction company's stock after purchasing an additional 5,000 shares during the period. Schwartz Investment Counsel Inc. owned about 0.16% of Watsco worth $33,548,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WSO. Global Retirement Partners LLC increased its stake in Watsco by 71.0% during the fourth quarter. Global Retirement Partners LLC now owns 212 shares of the construction company's stock valued at $100,000 after purchasing an additional 88 shares during the last quarter. NewEdge Wealth LLC increased its stake in Watsco by 3.2% during the fourth quarter. NewEdge Wealth LLC now owns 11,835 shares of the construction company's stock valued at $5,608,000 after purchasing an additional 367 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Watsco by 2.3% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 13,600 shares of the construction company's stock valued at $6,445,000 after purchasing an additional 300 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Watsco by 0.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 20,774 shares of the construction company's stock valued at $9,845,000 after purchasing an additional 79 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in Watsco by 9.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 9,311 shares of the construction company's stock valued at $4,412,000 after purchasing an additional 813 shares during the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Trading Up 0.3%

WSO stock traded up $1.15 during trading on Friday, hitting $435.58. The company had a trading volume of 801,122 shares, compared to its average volume of 258,702. The firm has a market capitalization of $17.65 billion, a price-to-earnings ratio of 33.48 and a beta of 1.06. The business has a 50 day moving average of $454.41 and a 200 day moving average of $479.47. Watsco, Inc. has a fifty-two week low of $418.31 and a fifty-two week high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($0.36). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. Watsco had a return on equity of 17.13% and a net margin of 6.98%. The business's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.17 EPS. As a group, 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. Shareholders 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 2.75%. This is an increase from Watsco's previous quarterly dividend of $2.70. The ex-dividend date of this dividend was Tuesday, April 15th. Watsco's dividend payout ratio is presently 92.24%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Mizuho set a $490.00 price target on shares of Watsco in a research report on Thursday, April 24th. Morgan Stanley assumed coverage on shares of Watsco in a research report on Monday, April 14th. They set an "equal weight" rating and a $515.00 price target for the company. Robert W. Baird lowered 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. Finally, JPMorgan Chase & Co. upped 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 issued a buy rating to the stock. Based on data from MarketBeat.com, Watsco presently has a consensus rating of "Hold" and a consensus target price of $485.83.

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.