Running Oak Capital LLC Buys 3,156 Shares of Watsco, Inc. (NYSE:WSO)

Running Oak Capital LLC raised its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 11.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,815 shares of the construction company's stock after acquiring an additional 3,156 shares during the period. Watsco makes up 2.0% of Running Oak Capital LLC's investment portfolio, making the stock its 12th largest position. Running Oak Capital LLC owned about 0.08% of Watsco worth $16,172,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Manitou Investment Management Ltd. purchased a new stake in Watsco in the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Watsco in the 1st quarter worth about $25,000. City Holding Co. bought a new position in shares of Watsco during the 1st quarter valued at about $29,000. Rialto Wealth Management LLC purchased a new position in shares of Watsco during the 4th quarter valued at about $31,000. Finally, ST Germain D J Co. Inc. lifted its position in Watsco by 260.0% in the 1st quarter. ST Germain D J Co. Inc. now owns 72 shares of the construction company's stock worth $37,000 after buying an additional 52 shares during the last quarter. Institutional investors own 89.71% of the company's stock.

Watsco Stock Down 1.8%

Shares of NYSE:WSO traded down $7.61 during midday trading on Wednesday, hitting $423.60. 429,147 shares of the stock traded hands, compared to its average volume of 256,848. The business's 50 day moving average is $458.82 and its two-hundred day moving average is $481.28. The stock has a market capitalization of $17.16 billion, a PE ratio of 32.56 and a beta of 1.06. Watsco, Inc. has a one year low of $418.34 and a one year high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.66 billion. Watsco had a return on equity of 17.13% and a net margin of 6.98%. The company's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.17 EPS. As a group, sell-side analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The firm also recently declared 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 a positive change 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 dividend on an annualized basis and a yield of 2.83%. Watsco's dividend payout ratio (DPR) is presently 92.24%.

Analysts Set New Price Targets

Several brokerages have issued reports on WSO. Wall Street Zen raised Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. UBS Group lowered their price objective on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a report on Wednesday. Mizuho set a $490.00 price objective on shares of Watsco in a research note on Thursday, April 24th. Loop Capital boosted their price target 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. Finally, Robert W. Baird reduced their price objective on Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Watsco currently has an average rating of "Hold" and a consensus price target of $485.83.

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.