Davidson Kahn Capital Management LLC Grows Stock Position in Watsco, Inc. (NYSE:WSO)

Davidson Kahn Capital Management LLC raised its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 156.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,436 shares of the construction company's stock after purchasing an additional 875 shares during the period. Davidson Kahn Capital Management LLC's holdings in Watsco were worth $730,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Fifth Third Bancorp raised its stake in shares of Watsco by 4.8% during the 1st quarter. Fifth Third Bancorp now owns 1,028 shares of the construction company's stock worth $523,000 after acquiring an additional 47 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Watsco by 81.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,178 shares of the construction company's stock valued at $558,000 after purchasing an additional 527 shares during the last quarter. Principal Securities Inc. grew its position in Watsco by 6.9% during the 4th quarter. Principal Securities Inc. now owns 373 shares of the construction company's stock worth $177,000 after purchasing an additional 24 shares during the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of Watsco by 14.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 1,607 shares of the construction company's stock worth $762,000 after buying an additional 197 shares during the last quarter. Finally, Certior Financial Group LLC acquired a new stake in shares of Watsco during the fourth quarter worth $442,000. Institutional investors own 89.71% of the company's stock.

Analyst Ratings Changes

WSO has been the subject of a number of research reports. Morgan Stanley initiated coverage on Watsco in a research report on Monday, April 14th. They set an "equal weight" rating and a $515.00 price target for the company. Wall Street Zen upgraded Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. UBS Group reduced 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 upped their price objective on shares of Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a report on Thursday, February 27th. Finally, Robert W. Baird decreased their target price 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 equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $486.67.

Watsco Stock Up 0.4%

Shares of WSO stock traded up $1.68 during trading hours on Tuesday, hitting $431.07. 293,924 shares of the company's stock were exchanged, compared to its average volume of 256,608. Watsco, Inc. has a fifty-two week low of $419.91 and a fifty-two week high of $571.42. The firm has a market cap of $17.46 billion, a P/E ratio of 33.13 and a beta of 1.06. The firm has a 50 day moving average of $460.41 and a two-hundred day moving average of $481.63.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings results 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 for 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 firm's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned $2.17 EPS. On average, equities analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were issued a dividend of $3.00 per share. This is a positive change from Watsco's previous quarterly dividend of $2.70. The ex-dividend date was Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.78%. Watsco's dividend payout ratio 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.