Watsco, Inc. (NYSE:WSO) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. cut its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 9.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,300 shares of the construction company's stock after selling 1,300 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Watsco were worth $6,252,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of WSO. Opal Wealth Advisors LLC acquired a new stake in Watsco in the 1st quarter valued at $25,000. Ipswich Investment Management Co. Inc. boosted its holdings in Watsco by 1.9% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 17,871 shares of the construction company's stock worth $9,084,000 after buying an additional 331 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Watsco by 4.8% in the first quarter. Fifth Third Bancorp now owns 1,028 shares of the construction company's stock worth $523,000 after acquiring an additional 47 shares during the last quarter. Simon Quick Advisors LLC boosted its stake in shares of Watsco by 11.4% in the first quarter. Simon Quick Advisors LLC now owns 900 shares of the construction company's stock worth $458,000 after acquiring an additional 92 shares during the last quarter. Finally, Alpha Omega Wealth Management LLC boosted its stake in shares of Watsco by 6.4% in the first quarter. Alpha Omega Wealth Management LLC now owns 3,409 shares of the construction company's stock worth $1,733,000 after acquiring an additional 204 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on WSO shares. Morgan Stanley started coverage on shares of Watsco in a research note on Monday, April 14th. They set an "equal weight" rating and a $515.00 target price on the stock. 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 report on Thursday, April 24th. Loop Capital upped their price objective on shares of Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. upped their price objective on shares of Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. Finally, UBS Group lowered their target price on Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $486.67.

Watsco Stock Performance

Shares of WSO stock traded down $0.68 on Wednesday, hitting $423.61. 295,473 shares of the stock traded hands, compared to its average volume of 256,926. The firm's 50-day moving average price is $466.94 and its two-hundred day moving average price is $485.06. 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 twelve month low of $422.87 and a twelve month high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last posted 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 analyst estimates of $1.66 billion. Watsco had a net margin of 6.98% and a return on equity of 17.13%. The business's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.17 earnings per share. On average, equities research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This is a boost from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.83%. Watsco's dividend payout ratio is currently 92.24%.

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.