Watsco, Inc. (NYSE:WSO) Shares Acquired by Vantage Investment Partners LLC

Vantage Investment Partners LLC grew its position in Watsco, Inc. (NYSE:WSO - Free Report) by 4.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,336 shares of the construction company's stock after acquiring an additional 1,131 shares during the period. Vantage Investment Partners LLC owned about 0.07% of Watsco worth $13,895,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of WSO. Principal Securities Inc. raised its position in shares of Watsco by 6.9% in the fourth quarter. Principal Securities Inc. now owns 373 shares of the construction company's stock worth $177,000 after acquiring an additional 24 shares during the period. CIBC Asset Management Inc raised its position in shares of Watsco by 4.2% in the fourth quarter. CIBC Asset Management Inc now owns 2,170 shares of the construction company's stock worth $1,028,000 after acquiring an additional 87 shares during the period. Atria Wealth Solutions Inc. increased its stake in shares of Watsco by 14.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 1,607 shares of the construction company's stock worth $762,000 after purchasing an additional 197 shares in the last quarter. Global Retirement Partners LLC increased its stake in shares of Watsco by 71.0% during the fourth quarter. Global Retirement Partners LLC now owns 212 shares of the construction company's stock worth $100,000 after purchasing an additional 88 shares in the last quarter. Finally, Wolverine Asset Management LLC increased its stake in shares of Watsco by 27.3% during the fourth quarter. Wolverine Asset Management LLC now owns 4,200 shares of the construction company's stock worth $1,990,000 after purchasing an additional 900 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

Watsco Trading Down 0.4%

Shares of NYSE WSO opened at $421.68 on Friday. Watsco, Inc. has a 12-month low of $419.91 and a 12-month high of $571.42. The stock has a market cap of $17.08 billion, a PE ratio of 32.41 and a beta of 1.06. The company has a 50-day moving average of $462.13 and a 200 day moving average of $482.59.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (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 business had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.66 billion. During the same period in the prior year, the company posted $2.17 EPS. The firm's revenue was down 2.2% on a year-over-year basis. On average, sell-side analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were paid a $3.00 dividend. This is a boost 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 dividend yield of 2.85%. Watsco's dividend payout ratio is 92.24%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Robert W. Baird cut their target price on shares of 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. boosted their target price on shares of Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 27th. Morgan Stanley assumed coverage on shares of Watsco in a research note on Monday, April 14th. They set an "equal weight" rating and a $515.00 target price for the company. Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Finally, Loop Capital boosted their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research note on Thursday, February 27th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $486.67.

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.

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