Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Watsco Inc (NYSE:WSO) by 14.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,841 shares of the construction company’s stock after selling 323 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Watsco were worth $264,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Legal & General Group Plc grew its position in Watsco by 2.8% in the fourth quarter. Legal & General Group Plc now owns 46,053 shares of the construction company’s stock worth $6,408,000 after acquiring an additional 1,261 shares in the last quarter. Princeton Global Asset Management LLC bought a new stake in Watsco in the fourth quarter worth approximately $500,000. Underhill Investment Management LLC bought a new stake in Watsco in the first quarter worth approximately $7,561,000. Wendell David Associates Inc. grew its position in Watsco by 1.7% in the fourth quarter. Wendell David Associates Inc. now owns 23,350 shares of the construction company’s stock worth $3,249,000 after acquiring an additional 390 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Watsco by 79.0% in the third quarter. Nordea Investment Management AB now owns 42,851 shares of the construction company’s stock worth $7,631,000 after acquiring an additional 18,913 shares in the last quarter. 80.54% of the stock is owned by institutional investors.
Shares of Watsco stock opened at $156.46 on Thursday. The company has a quick ratio of 1.27, a current ratio of 3.17 and a debt-to-equity ratio of 0.09. Watsco Inc has a 1-year low of $131.88 and a 1-year high of $191.86. The firm has a market capitalization of $5.79 billion, a PE ratio of 24.11, a PEG ratio of 1.83 and a beta of 0.98.
Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, April 23rd. The construction company reported $0.88 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.88. Watsco had a net margin of 5.05% and a return on equity of 14.23%. The business had revenue of $931.30 million during the quarter, compared to analysts’ expectations of $942.05 million. During the same period in the previous year, the company earned $0.89 earnings per share. Watsco’s revenue for the quarter was up .5% on a year-over-year basis. As a group, analysts anticipate that Watsco Inc will post 6.73 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Friday, April 12th. Watsco’s payout ratio is 98.61%.
Separately, Zacks Investment Research raised shares of Watsco from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $171.50.
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Watsco Company Profile
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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