Oppenheimer Asset Management Inc. boosted its position in Watsco Inc (NYSE:WSO) by 58.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,621 shares of the construction company’s stock after purchasing an additional 5,420 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Watsco were worth $2,094,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in WSO. BlackRock Inc. lifted its stake in Watsco by 4.2% in the fourth quarter. BlackRock Inc. now owns 3,663,158 shares of the construction company’s stock valued at $509,692,000 after acquiring an additional 146,562 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Watsco by 1.9% in the third quarter. Vanguard Group Inc now owns 2,867,335 shares of the construction company’s stock worth $510,673,000 after buying an additional 54,610 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Watsco by 1.9% in the third quarter. Vanguard Group Inc. now owns 2,867,335 shares of the construction company’s stock worth $510,673,000 after buying an additional 54,610 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Watsco by 20.4% in the fourth quarter. Baillie Gifford & Co. now owns 1,112,542 shares of the construction company’s stock worth $154,799,000 after buying an additional 188,860 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Watsco by 1.7% in the fourth quarter. Bank of New York Mellon Corp now owns 790,185 shares of the construction company’s stock worth $109,946,000 after buying an additional 12,937 shares during the last quarter. Institutional investors own 80.54% of the company’s stock.
Separately, Zacks Investment Research upgraded shares of Watsco from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $171.50.
NYSE:WSO traded down $0.85 during mid-day trading on Wednesday, reaching $157.76. 147,911 shares of the company were exchanged, compared to its average volume of 297,801. Watsco Inc has a 12 month low of $131.88 and a 12 month high of $191.86. The company has a quick ratio of 1.27, a current ratio of 3.17 and a debt-to-equity ratio of 0.09. The firm has a market cap of $5.87 billion, a P/E ratio of 24.31, a P/E/G ratio of 1.86 and a beta of 0.98.
Watsco (NYSE:WSO) last released its earnings results on Tuesday, April 23rd. The construction company reported $0.88 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.88. Watsco had a net margin of 5.05% and a return on equity of 14.23%. The company had revenue of $931.30 million for the quarter, compared to the consensus estimate of $942.05 million. During the same period in the prior year, the company posted $0.89 EPS. The company’s revenue was up .5% compared to the same quarter last year. As a group, equities analysts predict that Watsco Inc will post 6.73 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were given a $1.60 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.06%. Watsco’s dividend payout ratio is 98.61%.
Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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