WASHINGTON TRUST Co Cuts Stock Position in Watsco, Inc. (NYSE:WSO)

WASHINGTON TRUST Co lessened its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 2.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,166 shares of the construction company's stock after selling 833 shares during the period. WASHINGTON TRUST Co owned about 0.09% of Watsco worth $19,400,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in WSO. Opal Wealth Advisors LLC bought a new position in Watsco during the first quarter worth $25,000. Manitou Investment Management Ltd. acquired a new stake in Watsco during the 1st quarter worth about $25,000. City Holding Co. bought a new position in shares of Watsco in the 1st quarter worth about $29,000. Rialto Wealth Management LLC bought a new position in shares of Watsco in the 4th quarter worth about $31,000. Finally, ST Germain D J Co. Inc. lifted its stake in shares of Watsco by 260.0% in the 1st quarter. ST Germain D J Co. Inc. now owns 72 shares of the construction company's stock valued at $37,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 89.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley set a $505.00 target price on Watsco in a research note on Wednesday. Mizuho set a $490.00 price objective on shares of Watsco in a research note on Thursday, April 24th. UBS Group dropped their target price 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. Robert W. Baird reduced their price target on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $484.17.

Watsco Stock Performance

Shares of Watsco stock traded up $1.23 on Wednesday, hitting $456.82. The company had a trading volume of 288,148 shares, compared to its average volume of 259,724. Watsco, Inc. has a 1 year low of $418.31 and a 1 year high of $571.42. The stock has a 50 day moving average of $452.57 and a 200-day moving average of $478.46. The stock has a market capitalization of $18.51 billion, a price-to-earnings ratio of 35.11 and a beta of 1.04.

Watsco (NYSE:WSO - Get Free Report) last announced 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 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 in the prior year, the company earned $2.17 EPS. The business's revenue for the quarter was down 2.2% on a year-over-year basis. Equities analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 2.63%. Watsco's dividend payout ratio (DPR) is 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.