Vanguard Group Inc. raised its stake in shares of Watsco Inc. (NYSE:WSO) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,834,530 shares of the company’s stock after buying an additional 48,234 shares during the period. Vanguard Group Inc. owned about 5.63% of Watsco worth $258,100,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Watsco by 7.1% in the second quarter. JPMorgan Chase & Co. now owns 1,258,375 shares of the company’s stock valued at $177,041,000 after buying an additional 83,319 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Watsco by 17.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 996,145 shares of the company’s stock valued at $134,221,000 after buying an additional 151,049 shares during the period. State Street Corp increased its position in shares of Watsco by 2.5% in the first quarter. State Street Corp now owns 693,397 shares of the company’s stock valued at $93,422,000 after buying an additional 16,694 shares during the period. DAVENPORT & Co LLC increased its position in shares of Watsco by 0.5% in the second quarter. DAVENPORT & Co LLC now owns 624,822 shares of the company’s stock valued at $87,906,000 after buying an additional 2,881 shares during the period. Finally, Blair William & Co. IL increased its position in shares of Watsco by 5.4% in the second quarter. Blair William & Co. IL now owns 535,243 shares of the company’s stock valued at $75,303,000 after buying an additional 27,337 shares during the period. 67.33% of the stock is currently owned by hedge funds and other institutional investors.
Watsco Inc. (NYSE:WSO) opened at 140.71 on Wednesday. The firm has a 50-day moving average price of $143.90 and a 200-day moving average price of $138.80. Watsco Inc. has a 52-week low of $106.58 and a 52-week high of $149.99. The company has a market cap of $4.58 billion, a PE ratio of 28.51 and a beta of 0.94.
Watsco (NYSE:WSO) last posted its quarterly earnings results on Friday, July 22nd. The company reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by $0.22. Watsco had a return on equity of 13.65% and a net margin of 4.05%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the business earned $1.85 earnings per share. Watsco’s revenue was down .7% compared to the same quarter last year. On average, analysts forecast that Watsco Inc. will post $5.31 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 2.98%. This is a positive change from Watsco’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, October 13th. Watsco’s dividend payout ratio (DPR) is presently 69.11%.
Several research analysts recently issued reports on WSO shares. Zacks Investment Research upgraded shares of Watsco from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. JPMorgan Chase & Co. cut their target price on shares of Watsco from $131.00 to $128.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 27th. Seaport Global Securities downgraded shares of Watsco from an “accumulate” rating to a “neutral” rating and set a $150.00 price target on the stock. in a research report on Monday, July 25th. Barclays PLC set a $113.00 price target on shares of Watsco and gave the company a “sell” rating in a research report on Monday, July 25th. Finally, Stifel Nicolaus cut their price target on shares of Watsco from $154.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Watsco presently has a consensus rating of “Hold” and a consensus target price of $138.50.
Watsco Company Profile
Watsco, Inc (Watsco) is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R). The Company operates in the HVAC/R distribution industry in North America. The Company operates at approximately 570 locations in over 40 United States’ states, Canada, Mexico and Puerto Rico.
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