Watsco, Inc. (NYSE:WSO) Shares Purchased by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. grew its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent 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 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Manitou Investment Management Ltd. purchased a new position in shares of Watsco during the 1st quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new position in Watsco during the first quarter valued at $25,000. City Holding Co. acquired a new stake in shares of Watsco in the first quarter valued at about $29,000. Rialto Wealth Management LLC purchased a new stake in shares of Watsco during the fourth quarter worth about $31,000. Finally, ST Germain D J Co. Inc. boosted its holdings in Watsco by 260.0% in the 1st quarter. ST Germain D J Co. Inc. now owns 72 shares of the construction company's stock worth $37,000 after buying an additional 52 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Trading Up 3.3%

WSO stock traded up $14.62 during trading on Tuesday, reaching $456.24. 307,713 shares of the stock were exchanged, compared to its average volume of 259,667. The firm has a market capitalization of $18.48 billion, a price-to-earnings ratio of 35.07 and a beta of 1.06. The business has a 50 day moving average price of $453.34 and a 200-day moving average price of $478.77. Watsco, Inc. has a 1 year low of $418.31 and a 1 year high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.66 billion. Watsco had a net margin of 6.98% and a return on equity of 17.13%. The company's revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.17 earnings per share. On average, research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 16th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.63%. Watsco's payout ratio is 92.24%.

Analyst Ratings Changes

WSO has been the subject of several recent research reports. Robert W. Baird reduced their price objective on Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. 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 lowered their price target on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 25th. Morgan Stanley began coverage on shares of 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, Mizuho set a $490.00 target price on shares of Watsco in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $485.83.

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.