Pennsylvania Trust Co boosted its position in shares of Watsco, Inc. (NYSE:WSO) by 1,389.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,213 shares of the construction company’s stock after buying an additional 29,118 shares during the period. Pennsylvania Trust Co owned approximately 0.10% of Watsco worth $4,813,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the stock. UBS Group AG raised its stake in Watsco by 67.0% in the first quarter. UBS Group AG now owns 32,815 shares of the construction company’s stock worth $4,698,000 after buying an additional 13,165 shares in the last quarter. Private Trust Co. NA purchased a new stake in Watsco during the first quarter worth approximately $463,000. Numeric Investors LLC purchased a new stake in Watsco during the fourth quarter worth approximately $252,000. Point72 Asset Management L.P. purchased a new stake in Watsco during the first quarter worth approximately $10,796,000. Finally, William Blair Investment Management LLC raised its stake in Watsco by 13.9% in the first quarter. William Blair Investment Management LLC now owns 241,082 shares of the construction company’s stock worth $34,518,000 after buying an additional 29,423 shares in the last quarter. 79.18% of the stock is currently owned by institutional investors.
Shares of Watsco, Inc. (NYSE:WSO) traded up 0.56% during mid-day trading on Wednesday, hitting $155.24. 8,428 shares of the stock traded hands. The company’s 50-day moving average price is $145.41 and its 200 day moving average price is $146.67. The company has a market capitalization of $5.07 billion, a PE ratio of 30.15 and a beta of 0.84. Watsco, Inc. has a 1-year low of $128.60 and a 1-year high of $159.55.
Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, April 25th. The construction company reported $0.67 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.13. The firm had revenue of $872.10 million during the quarter, compared to the consensus estimate of $877.45 million. Watsco had a return on equity of 13.81% and a net margin of 4.13%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.71 EPS. Equities research analysts forecast that Watsco, Inc. will post $5.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Monday, July 17th will be given a $1.25 dividend. This is a positive change from Watsco’s previous quarterly dividend of $1.05. The ex-dividend date is Thursday, July 13th. This represents a $5.00 dividend on an annualized basis and a yield of 3.24%. Watsco’s payout ratio is 82.03%.
A number of equities research analysts have recently commented on WSO shares. Zacks Investment Research lowered shares of Watsco from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $176.00 price objective (up from $163.00) on shares of Watsco in a research note on Friday, June 23rd. Seaport Global Securities raised shares of Watsco from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $160.00 in a research note on Wednesday, April 26th. BidaskClub raised shares of Watsco from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Wolfe Research started coverage on shares of Watsco in a research note on Tuesday. They set a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $153.14.
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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