Bank of New York Mellon Corp Buys 6,320 Shares of Watsco, Inc. (NYSE:WSO)

Bank of New York Mellon Corp increased its position in Watsco, Inc. (NYSE:WSO) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 393,032 shares of the construction company’s stock after buying an additional 6,320 shares during the period. Bank of New York Mellon Corp owned 0.98% of Watsco worth $182,068,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its position in shares of Watsco by 50.9% during the 1st quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock valued at $80,188,000 after acquiring an additional 62,593 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Watsco by 3.8% in the 4th quarter. Franklin Resources Inc. now owns 44,737 shares of the construction company’s stock valued at $19,168,000 after acquiring an additional 1,650 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Watsco by 12.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 255,062 shares of the construction company’s stock worth $109,287,000 after purchasing an additional 28,047 shares during the period. Sapient Capital LLC purchased a new stake in Watsco during the 4th quarter valued at $751,000. Finally, American National Bank lifted its position in Watsco by 878.1% in the first quarter. American National Bank now owns 2,416 shares of the construction company’s stock worth $1,044,000 after buying an additional 2,169 shares during the last quarter. 89.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WSO has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird boosted their price objective on Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $433.71.

Watsco Stock Down 0.8 %

Shares of Watsco stock traded down $3.68 during trading on Monday, hitting $482.02. 128,684 shares of the stock traded hands, compared to its average volume of 304,605. The company has a current ratio of 3.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $481.71 and its 200 day simple moving average is $450.83. The firm has a market cap of $19.43 billion, a P/E ratio of 37.73 and a beta of 0.88. Watsco, Inc. has a 52-week low of $338.58 and a 52-week high of $520.41.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $4.49 EPS for the quarter, missing the consensus estimate of $4.70 by ($0.21). Watsco had a net margin of 7.02% and a return on equity of 18.55%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the firm posted $4.42 EPS. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts predict that Watsco, Inc. will post 13.83 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th were given a dividend of $2.70 per share. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $10.80 annualized dividend and a yield of 2.24%. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Watsco 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.