Brown Advisory Inc. Has $3.93 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

Brown Advisory Inc. raised its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 129.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,722 shares of the construction company's stock after acquiring an additional 4,355 shares during the period. Brown Advisory Inc.'s holdings in Watsco were worth $3,925,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of WSO. Fullcircle Wealth LLC acquired a new position in Watsco in the 1st quarter worth $239,000. Capital Advisors Inc. OK lifted its holdings in shares of Watsco by 1.0% in the first quarter. Capital Advisors Inc. OK now owns 59,909 shares of the construction company's stock valued at $30,452,000 after purchasing an additional 621 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Watsco by 3.1% during the first quarter. Envestnet Asset Management Inc. now owns 268,284 shares of the construction company's stock worth $136,369,000 after buying an additional 8,180 shares during the period. Adell Harriman & Carpenter Inc. grew its holdings in shares of Watsco by 3.5% during the first quarter. Adell Harriman & Carpenter Inc. now owns 945 shares of the construction company's stock worth $480,000 after buying an additional 32 shares in the last quarter. Finally, HM Payson & Co. grew its holdings in shares of Watsco by 24.4% during the first quarter. HM Payson & Co. now owns 510 shares of the construction company's stock worth $259,000 after buying an additional 100 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Price Performance

NYSE WSO traded down $4.96 on Friday, hitting $471.33. 232,042 shares of the stock were exchanged, 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 business's fifty day moving average is $453.34 and its 200 day moving average is $476.97. Watsco, Inc. has a 52 week low of $418.31 and a 52 week high of $571.42.

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

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th will be paid a dividend of $3.00 per share. 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 is currently 92.24%.

Analyst Ratings Changes

Several equities research analysts have commented on WSO shares. Robert W. Baird cut their target price on Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. UBS Group cut their price objective on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 25th. JPMorgan Chase & Co. increased their target price on shares of Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. Wall Street Zen upgraded shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Finally, Mizuho set a $490.00 price target on shares of Watsco in a research report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $484.17.

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.