Bayforest Capital Ltd Purchases 1,127 Shares of Watsco, Inc. (NYSE:WSO)

Bayforest Capital Ltd raised its position in Watsco, Inc. (NYSE:WSO - Free Report) by 479.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,362 shares of the construction company's stock after purchasing an additional 1,127 shares during the period. Bayforest Capital Ltd's holdings in Watsco were worth $692,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WSO. XTX Topco Ltd increased its position in shares of Watsco by 47.7% during the first quarter. XTX Topco Ltd now owns 1,300 shares of the construction company's stock valued at $661,000 after acquiring an additional 420 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Watsco during the 1st quarter worth about $81,000. TCTC Holdings LLC lifted its position in Watsco by 115.4% in the first quarter. TCTC Holdings LLC now owns 56 shares of the construction company's stock valued at $28,000 after acquiring an additional 30 shares during the last quarter. LPL Financial LLC increased its position in Watsco by 2.8% during the first quarter. LPL Financial LLC now owns 28,338 shares of the construction company's stock worth $14,404,000 after buying an additional 781 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Watsco by 0.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,270 shares of the construction company's stock valued at $6,745,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds own 89.71% of the company's stock.

Watsco Stock Performance

Shares of WSO traded down $16.46 during mid-day trading on Friday, reaching $434.42. 375,572 shares of the company's stock traded hands, compared to its average volume of 301,426. The stock has a market capitalization of $17.60 billion, a P/E ratio of 33.31 and a beta of 1.04. Watsco, Inc. has a 12 month low of $418.31 and a 12 month high of $571.41. The business's 50-day moving average price is $452.52 and its 200-day moving average price is $476.93.

Watsco (NYSE:WSO - Get Free Report) last released its earnings results on Wednesday, July 30th. The construction company reported $4.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.84 by ($0.32). Watsco had a return on equity of 16.96% and a net margin of 7.08%. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the firm earned $4.49 earnings per share. Watsco's revenue was down 3.6% on a year-over-year basis. Equities research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Wednesday, July 16th were issued a $3.00 dividend. The ex-dividend date was Wednesday, July 16th. This represents a $12.00 dividend on an annualized basis and a yield of 2.8%. Watsco's dividend payout ratio is currently 92.24%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. UBS Group lowered their price objective on Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a research report on Wednesday, June 25th. JPMorgan Chase & Co. boosted their price target on Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. Robert W. Baird lowered their price objective 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. Finally, Mizuho set a $490.00 price objective on shares of Watsco in a report on Thursday, April 24th. Seven 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, the company has a consensus rating of "Hold" and an average target price of $484.17.

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.