Patrick Mauro Investment Advisor INC. Has $12.74 Million Stake in Watsco, Inc. (NYSE:WSO)

Patrick Mauro Investment Advisor INC. lessened its stake in shares of Watsco, Inc. (NYSE:WSO) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,057 shares of the construction company’s stock after selling 437 shares during the quarter. Watsco comprises about 7.0% of Patrick Mauro Investment Advisor INC.’s investment portfolio, making the stock its 2nd biggest holding. Patrick Mauro Investment Advisor INC.’s holdings in Watsco were worth $12,737,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Manitou Investment Management Ltd. bought a new position in shares of Watsco during the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new stake in Watsco during the first quarter valued at approximately $25,000. City Holding Co. bought a new stake in Watsco during the first quarter worth approximately $29,000. Rossby Financial LCC bought a new position in shares of Watsco in the first quarter valued at $33,000. Finally, ST Germain D J Co. Inc. increased its holdings 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 buying an additional 52 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Trading Up 0.5%

Shares of NYSE WSO opened at $472.30 on Tuesday. Watsco, Inc. has a one year low of $418.31 and a one year high of $571.42. The business has a 50-day moving average price of $453.34 and a two-hundred day moving average price of $476.89. The firm has a market capitalization of $19.13 billion, a PE ratio of 36.30 and a beta of 1.04.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.36). Watsco had a return on equity of 17.13% and a net margin of 6.98%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the business posted $2.17 earnings per share. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. Research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Wednesday, July 16th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Wednesday, July 16th. Watsco’s dividend payout ratio (DPR) is currently 92.24%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WSO shares. JPMorgan Chase & Co. raised their price objective on Watsco from $445.00 to $460.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 27th. UBS Group decreased their price target on Watsco from $455.00 to $450.00 and set a “neutral” rating for the company in a research report on Wednesday, June 25th. Robert W. Baird cut their price objective on Watsco from $560.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Morgan Stanley set a $505.00 price objective on shares of Watsco in a research note on Wednesday, July 2nd. Finally, Mizuho set a $490.00 target price on shares of Watsco in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Watsco presently has an average rating of “Hold” and an average target price of $484.17.

About Watsco

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.