Watsco, Inc. (NYSE:WSO) Shares Purchased by Vision Capital Management Inc.

Vision Capital Management Inc. lifted its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 6.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,849 shares of the construction company's stock after purchasing an additional 1,128 shares during the quarter. Watsco comprises 1.3% of Vision Capital Management Inc.'s portfolio, making the stock its 22nd biggest holding. Vision Capital Management Inc.'s holdings in Watsco were worth $9,073,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Allworth Financial LP boosted its holdings in Watsco by 17.6% during the 1st quarter. Allworth Financial LP now owns 320 shares of the construction company's stock valued at $163,000 after acquiring an additional 48 shares during the period. Bridges Investment Management Inc. lifted its holdings in shares of Watsco by 67.1% in the 1st quarter. Bridges Investment Management Inc. now owns 4,168 shares of the construction company's stock worth $2,119,000 after buying an additional 1,673 shares during the period. Valeo Financial Advisors LLC lifted its holdings in shares of Watsco by 2.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 1,056 shares of the construction company's stock worth $537,000 after buying an additional 24 shares during the period. Stratos Wealth Partners LTD. increased its holdings in shares of Watsco by 3.8% in the first quarter. Stratos Wealth Partners LTD. now owns 24,004 shares of the construction company's stock valued at $12,202,000 after purchasing an additional 885 shares during the period. Finally, Stratos Investment Management LLC grew its holdings in Watsco by 16.7% during the first quarter. Stratos Investment Management LLC now owns 517 shares of the construction company's stock worth $263,000 after acquiring an additional 74 shares during the period. Hedge funds and other institutional investors own 89.71% of the company's stock.

Watsco Stock Down 1.0%

Shares of NYSE WSO traded down $4.96 during midday trading on Friday, hitting $471.33. The stock had a trading volume of 232,042 shares, compared to its average volume of 261,633. The company has a market capitalization of $19.09 billion, a PE ratio of 36.23 and a beta of 1.04. The stock has a 50 day simple moving average of $453.34 and a 200-day simple moving average of $477.07. Watsco, Inc. has a 1 year low of $418.31 and a 1 year high of $571.42.

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

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th will be given a $3.00 dividend. The ex-dividend date is Wednesday, July 16th. This represents a $12.00 annualized dividend and a dividend yield of 2.55%. Watsco's dividend payout ratio (DPR) is presently 92.24%.

Analyst Ratings Changes

Several research firms recently commented on WSO. Morgan Stanley set a $505.00 target price on Watsco in a report on Wednesday, July 2nd. Wall Street Zen upgraded Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. UBS Group lowered their price target on Watsco from $455.00 to $450.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 25th. Mizuho set a $490.00 price target on Watsco in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. increased their price target on Watsco from $445.00 to $460.00 and gave the stock 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 issued a buy rating to the company's stock. According to data from MarketBeat, Watsco has a consensus rating of "Hold" and an average price target of $484.17.

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.