Trueblood Wealth Management LLC Buys 211 Shares of Watsco, Inc. (NYSE:WSO)

Trueblood Wealth Management LLC raised its stake in Watsco, Inc. (NYSE:WSO) by 5.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,994 shares of the construction company’s stock after acquiring an additional 211 shares during the quarter. Watsco makes up 0.9% of Trueblood Wealth Management LLC’s holdings, making the stock its 18th biggest position. Trueblood Wealth Management LLC’s holdings in Watsco were worth $2,030,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Manitou Investment Management Ltd. bought a new stake in Watsco in the 1st quarter valued at about $25,000. City Holding Co. bought a new position in Watsco during the first quarter worth about $29,000. Rialto Wealth Management LLC purchased a new position in shares of Watsco in the fourth quarter worth about $31,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Watsco in the fourth quarter valued at approximately $36,000. Finally, ST Germain D J Co. Inc. raised its position in shares of Watsco by 260.0% in the first quarter. ST Germain D J Co. Inc. now owns 72 shares of the construction company’s stock valued at $37,000 after purchasing an additional 52 shares during the period. 89.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on WSO shares. Wall Street Zen raised shares of Watsco from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Loop Capital increased their target price on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Morgan Stanley started coverage on Watsco in a report on Monday, April 14th. They issued an “equal weight” rating and a $515.00 price target for the company. Mizuho set a $490.00 price target on Watsco in a research report on Thursday, April 24th. Finally, UBS Group cut their target price on Watsco from $475.00 to $455.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Watsco currently has a consensus rating of “Hold” and a consensus target price of $486.67.

Watsco Price Performance

Shares of NYSE:WSO opened at $449.43 on Wednesday. The firm has a fifty day moving average price of $470.94 and a two-hundred day moving average price of $489.27. The company has a market cap of $18.21 billion, a price-to-earnings ratio of 33.92 and a beta of 1.06. Watsco, Inc. has a one year low of $430.20 and a one year high of $571.42.

Watsco (NYSE:WSO) last issued its quarterly earnings data 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). The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business posted $2.17 EPS. Equities research analysts expect 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. Shareholders of record on Tuesday, April 15th were issued a $3.00 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $12.00 annualized dividend and a dividend yield of 2.67%. This is a boost from Watsco’s previous quarterly dividend of $2.70. Watsco’s dividend payout ratio (DPR) is presently 92.24%.

Watsco Company 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.