SlateStone Wealth LLC Buys 98 Shares of Watsco, Inc. (NYSE:WSO)

SlateStone Wealth LLC boosted its stake in shares of Watsco, Inc. (NYSE:WSO) by 4.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,187 shares of the construction company’s stock after acquiring an additional 98 shares during the quarter. SlateStone Wealth LLC’s holdings in Watsco were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Manitou Investment Management Ltd. purchased a new stake in shares of Watsco during the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new stake in Watsco during the 1st quarter valued at $25,000. TCTC Holdings LLC boosted its position in Watsco by 115.4% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the construction company’s stock valued at $28,000 after buying an additional 30 shares during the period. City Holding Co. purchased a new stake in Watsco during the 1st quarter valued at $29,000. Finally, Rossby Financial LCC bought a new stake in Watsco in the 1st quarter worth $33,000. 89.71% of the stock is currently owned by institutional investors.

Watsco Trading Down 4.4%

Shares of WSO opened at $444.26 on Thursday. The firm has a fifty day moving average price of $452.61 and a 200-day moving average price of $477.10. The firm has a market capitalization of $18.00 billion, a P/E ratio of 34.15 and a beta of 1.04. Watsco, Inc. has a 12-month low of $418.31 and a 12-month high of $571.41.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, July 30th. The construction company reported $4.52 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.32). The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a net margin of 6.98% and a return on equity of 17.13%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $4.49 EPS. Analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th will be paid a dividend of $3.00 per share. The ex-dividend date is Wednesday, July 16th. This represents a $12.00 annualized dividend and a dividend yield of 2.70%. Watsco’s dividend payout ratio is currently 92.24%.

Analyst Ratings Changes

WSO has been the topic of a number of research analyst reports. Mizuho set a $490.00 price target on Watsco in a report on Thursday, April 24th. UBS Group lowered their price target on shares of Watsco from $455.00 to $450.00 and set a “neutral” rating for the company in a research report on Wednesday, June 25th. Wall Street Zen upgraded Watsco from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Morgan Stanley set a $505.00 target price on shares of Watsco in a research note on Wednesday, July 2nd. Finally, Robert W. Baird lowered their price target on Watsco from $560.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.