Vantage Investment Partners LLC Purchases 1,131 Shares of Watsco, Inc. (NYSE:WSO)

Vantage Investment Partners LLC boosted its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 0.07% of Watsco worth $13,895,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Manitou Investment Management Ltd. acquired a new position in Watsco in the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new position in Watsco in the first quarter valued at approximately $25,000. City Holding Co. acquired a new position in Watsco in the first quarter valued at approximately $29,000. Rialto Wealth Management LLC acquired a new position in Watsco in the fourth quarter valued at approximately $31,000. Finally, ST Germain D J Co. Inc. raised its position in shares of Watsco by 260.0% during the first quarter. ST Germain D J Co. Inc. now owns 72 shares of the construction company's stock worth $37,000 after purchasing an additional 52 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Watsco Price Performance

NYSE:WSO traded down $7.61 on Wednesday, reaching $423.60. 429,147 shares of the company's stock were exchanged, compared to its average volume of 256,848. The firm has a market cap of $17.16 billion, a price-to-earnings ratio of 32.56 and a beta of 1.06. Watsco, Inc. has a 52 week low of $418.34 and a 52 week high of $571.42. The stock has a fifty day simple moving average of $457.34 and a 200-day simple moving average of $480.88.

Watsco (NYSE:WSO - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share for the quarter, missing analysts' consensus estimates of $2.29 by ($0.36). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. Watsco had a return on equity of 17.13% and a net margin of 6.98%. Watsco's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.17 EPS. As a group, sell-side analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were given a $3.00 dividend. This is a positive change from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Tuesday, April 15th. Watsco's dividend payout ratio (DPR) is 92.24%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WSO. JPMorgan Chase & Co. upped their target price on Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Morgan Stanley assumed coverage on shares of Watsco in a report on Monday, April 14th. They issued an "equal weight" rating and a $515.00 target price for the company. Robert W. Baird lowered their target price 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. Mizuho set a $490.00 price target on shares of Watsco in a research report on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $485.83.

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.