Vanguard Group Inc. Boosts Stock Position in Watsco, Inc. (NYSE:WSO)

Vanguard Group Inc. raised its stake in shares of Watsco, Inc. (NYSE:WSO – Free Report) by 4.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,411,894 shares of the construction company’s stock after acquiring an additional 146,305 shares during the period. Vanguard Group Inc. owned approximately 8.64% of Watsco worth $1,473,836,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Shaker Investments LLC OH raised its stake in Watsco by 0.3% during the 1st quarter. Shaker Investments LLC OH now owns 7,564 shares of the construction company’s stock valued at $3,267,000 after acquiring an additional 24 shares during the last quarter. Hartford Financial Management Inc. raised its stake in Watsco by 53.1% during the 4th quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock valued at $32,000 after acquiring an additional 26 shares during the last quarter. Lindbrook Capital LLC raised its stake in Watsco by 53.8% during the 4th quarter. Lindbrook Capital LLC now owns 80 shares of the construction company’s stock valued at $34,000 after acquiring an additional 28 shares during the last quarter. Lincoln National Corp raised its stake in Watsco by 4.0% during the 4th quarter. Lincoln National Corp now owns 728 shares of the construction company’s stock valued at $312,000 after acquiring an additional 28 shares during the last quarter. Finally, Allworth Financial LP raised its stake in Watsco by 44.1% during the 4th quarter. Allworth Financial LP now owns 98 shares of the construction company’s stock valued at $42,000 after acquiring an additional 30 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WSO has been the subject of a number of analyst reports. Robert W. Baird increased their target price on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Stephens reissued an “overweight” rating and set a $500.00 target price on shares of Watsco in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $404.25.

View Our Latest Report on WSO

Watsco Stock Performance

WSO opened at $499.89 on Tuesday. The stock has a market cap of $20.15 billion, a P/E ratio of 38.45 and a beta of 0.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.31. The stock’s 50 day simple moving average is $480.25 and its 200 day simple moving average is $437.25. Watsco, Inc. has a 1-year low of $337.58 and a 1-year high of $520.41.

Watsco (NYSE:WSO – Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.83 EPS. As a group, equities analysts anticipate that Watsco, Inc. will post 14.1 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Tuesday, July 16th will be issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Tuesday, July 16th. Watsco’s dividend payout ratio is currently 83.08%.

Insider Buying and Selling

In related news, Director John Alexander Macdonald sold 5,334 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $466.41, for a total value of $2,487,830.94. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Watsco news, EVP Barry S. Logan sold 774 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $473.85, for a total transaction of $366,759.90. Following the sale, the executive vice president now owns 1,770 shares in the company, valued at approximately $838,714.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Alexander Macdonald sold 5,334 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total value of $2,487,830.94. The disclosure for this sale can be found here. Insiders own 12.86% of the company’s stock.

About Watsco

(Free Report)

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.

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