Watsco, Inc. (NYSE:WSO) Shares Purchased by Trinity Financial Advisors LLC

Trinity Financial Advisors LLC boosted its position in Watsco, Inc. (NYSE:WSO - Free Report) by 608.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,200 shares of the construction company's stock after acquiring an additional 2,748 shares during the quarter. Trinity Financial Advisors LLC's holdings in Watsco were worth $1,627,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WSO. JPMorgan Chase & Co. increased its holdings in shares of Watsco by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company's stock valued at $228,263,000 after acquiring an additional 41,845 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of Watsco by 8.5% in the 4th quarter. Bleakley Financial Group LLC now owns 674 shares of the construction company's stock valued at $319,000 after acquiring an additional 53 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Watsco by 6.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 68,637 shares of the construction company's stock valued at $32,526,000 after acquiring an additional 3,879 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Watsco in the 4th quarter valued at $50,000. Finally, Empowered Funds LLC increased its holdings in shares of Watsco by 13.2% in the 4th quarter. Empowered Funds LLC now owns 5,695 shares of the construction company's stock valued at $2,699,000 after acquiring an additional 664 shares during the period. Institutional investors and hedge funds own 89.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WSO shares. Mizuho set a $490.00 target price on shares of Watsco in a report on Thursday, April 24th. Morgan Stanley initiated coverage on shares of Watsco in a research report on Monday, April 14th. They issued an "equal weight" rating and a $515.00 price objective on the stock. UBS Group lowered their price objective on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Loop Capital lifted their price objective on shares of Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. lifted their price objective 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. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Watsco has a consensus rating of "Hold" and an average price target of $486.67.

Watsco Price Performance

Shares of NYSE WSO traded down $11.86 during trading on Friday, hitting $431.27. 235,983 shares of the company were exchanged, compared to its average volume of 256,606. The company has a market cap of $17.47 billion, a price-to-earnings ratio of 32.55 and a beta of 1.06. Watsco, Inc. has a 1 year low of $430.20 and a 1 year high of $571.42. The firm's fifty day moving average price is $469.10 and its 200 day moving average price is $486.81.

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 the consensus estimate of $2.29 by ($0.36). The company had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.66 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. Watsco's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.17 earnings per share. On average, research analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were paid a $3.00 dividend. This is an increase from Watsco's previous quarterly dividend of $2.70. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $12.00 annualized dividend and a yield of 2.78%. Watsco's payout ratio is presently 92.24%.

Watsco Company 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.