810 Shares in Watsco, Inc. (NYSE:WSO) Bought by Ballentine Partners LLC

Ballentine Partners LLC purchased a new position in Watsco, Inc. (NYSE:WSO) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 810 shares of the construction company’s stock, valued at approximately $412,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WSO. Manitou Investment Management Ltd. purchased a new stake in Watsco in the first quarter worth $25,000. Opal Wealth Advisors LLC bought a new position in shares of Watsco in the 1st quarter worth approximately $25,000. City Holding Co. bought a new position in shares of Watsco in the 1st quarter worth approximately $29,000. Rossby Financial LCC bought a new position in shares of Watsco in the 1st quarter worth approximately $33,000. Finally, ST Germain D J Co. Inc. raised its position in shares of Watsco by 260.0% in the 1st quarter. ST Germain D J Co. Inc. now owns 72 shares of the construction company’s stock worth $37,000 after acquiring an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on WSO shares. Morgan Stanley set a $505.00 target price on Watsco in a research report on Wednesday, July 2nd. UBS Group decreased their target price on Watsco from $455.00 to $450.00 and set a “neutral” rating for the company in a research report on Wednesday, June 25th. JPMorgan Chase & Co. increased their target price on Watsco from $445.00 to $460.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 27th. Robert W. Baird decreased their target price on Watsco from $560.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Finally, Wall Street Zen raised Watsco from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $484.17.

Watsco Stock Up 0.4%

Watsco stock opened at $474.76 on Wednesday. The company has a market capitalization of $19.23 billion, a P/E ratio of 36.49 and a beta of 1.04. The stock’s 50 day moving average is $453.19 and its 200 day moving average is $476.82. Watsco, Inc. has a twelve month low of $418.31 and a twelve month high of $571.42.

Watsco (NYSE:WSO) last issued its 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 net margin of 6.98% and a return on equity of 17.13%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. As a group, equities analysts expect that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The firm 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. The ex-dividend date is Wednesday, July 16th. This represents a $12.00 annualized dividend and a yield of 2.53%. Watsco’s dividend payout ratio is 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.