Watsco, Inc. (NYSE:WSO) Holdings Raised by Blair William & Co. IL

Key Points

• Blair William & Co. IL increased its stake in Watsco, Inc. by 5.7% in the first quarter, becoming one of the major institutional holders with approximately 2.02% of Watsco's shares valued at $414.12 million.
• Watsco reported a quarterly earnings per share (EPS) of $4.52, missing analysts' expectations by $0.32, and noted a 3.6% decrease in year-over-year revenue.
• The company declared a quarterly dividend of $3.00, representing an annualized dividend yield of 2.8% and a payout ratio of 92.24%.

Blair William & Co. IL boosted its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 5.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 814,712 shares of the construction company's stock after purchasing an additional 43,776 shares during the period. Watsco makes up 1.2% of Blair William & Co. IL's holdings, making the stock its 14th biggest holding. Blair William & Co. IL owned 2.02% of Watsco worth $414,118,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WSO. OneDigital Investment Advisors LLC acquired a new position in shares of Watsco in the first quarter valued at approximately $266,000. Teacher Retirement System of Texas purchased a new stake in Watsco in the 1st quarter valued at $2,588,000. Golden State Wealth Management LLC raised its position in Watsco by 109.4% in the 1st quarter. Golden State Wealth Management LLC now owns 222 shares of the construction company's stock valued at $113,000 after purchasing an additional 116 shares during the last quarter. SG Americas Securities LLC raised its position in Watsco by 133.1% in the 1st quarter. SG Americas Securities LLC now owns 844 shares of the construction company's stock valued at $429,000 after purchasing an additional 482 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Watsco by 4.8% during the 1st quarter. Fifth Third Bancorp now owns 1,028 shares of the construction company's stock worth $523,000 after buying an additional 47 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on WSO shares. Robert W. Baird lowered their price target on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Mizuho set a $490.00 price target on shares of Watsco in a research note on Thursday, April 24th. Morgan Stanley set a $505.00 price objective on shares of Watsco in a report on Wednesday, July 2nd. Wall Street Zen upgraded shares of Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $484.17.

Watsco Trading Up 0.3%

Watsco stock traded up $1.36 during mid-day trading on Tuesday, reaching $426.87. The company's stock had a trading volume of 56,292 shares, compared to its average volume of 300,506. The firm has a market cap of $17.29 billion, a price-to-earnings ratio of 32.71 and a beta of 0.95. The business has a 50 day moving average price of $451.54 and a 200-day moving average price of $475.99. Watsco, Inc. has a twelve month low of $418.31 and a twelve month high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The construction company reported $4.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.84 by ($0.32). Watsco had a net margin of 7.08% and a return on equity of 16.96%. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the firm posted $4.49 EPS. The business's revenue was down 3.6% compared to the same quarter last year. On average, equities analysts expect that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Wednesday, July 16th. This represents a $12.00 annualized dividend and a dividend yield of 2.8%. Watsco's payout ratio is 92.02%.

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.