Victory Capital Management Inc. Has $36.16 Million Stock Position in Watsco, Inc. (NYSE:WSO)

Victory Capital Management Inc. increased its position in shares of Watsco, Inc. (NYSE:WSOGet Rating) by 56.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,522 shares of the construction company’s stock after purchasing an additional 49,094 shares during the quarter. Victory Capital Management Inc. owned approximately 0.35% of Watsco worth $36,155,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Aviva PLC increased its position in shares of Watsco by 39.7% during the 4th quarter. Aviva PLC now owns 8,385 shares of the construction company’s stock worth $2,624,000 after purchasing an additional 2,382 shares in the last quarter. GHP Investment Advisors Inc. acquired a new stake in shares of Watsco during the 1st quarter worth about $56,000. Geode Capital Management LLC increased its position in shares of Watsco by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 484,113 shares of the construction company’s stock worth $151,462,000 after purchasing an additional 11,069 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Watsco during the 4th quarter worth about $2,259,000. Finally, Illinois Municipal Retirement Fund increased its position in Watsco by 26.6% in the 4th quarter. Illinois Municipal Retirement Fund now owns 6,805 shares of the construction company’s stock valued at $2,129,000 after acquiring an additional 1,429 shares in the last quarter. Institutional investors and hedge funds own 78.13% of the company’s stock.

Watsco Stock Up 1.8 %

Shares of NYSE WSO opened at $278.82 on Tuesday. The firm has a market capitalization of $10.86 billion, a PE ratio of 20.70 and a beta of 0.93. The company has a current ratio of 2.47, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. Watsco, Inc. has a 1 year low of $220.68 and a 1 year high of $318.98. The firm’s 50-day moving average is $249.04 and its 200-day moving average is $268.84.

Watsco (NYSE:WSOGet Rating) last issued its earnings results on Tuesday, July 26th. The construction company reported $4.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.82 by $0.11. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.15 billion. Watsco had a net margin of 7.56% and a return on equity of 25.27%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.71 EPS. Equities analysts expect that Watsco, Inc. will post 14.83 EPS for the current year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were paid a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Thursday, July 14th. Watsco’s payout ratio is 65.33%.

Insider Buying and Selling

In related news, Director Cesar L. Alvarez sold 4,000 shares of Watsco stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $253.55, for a total transaction of $1,014,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.31% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on WSO. KeyCorp lowered their price objective on shares of Watsco from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday, July 18th. StockNews.com cut shares of Watsco from a “buy” rating to a “hold” rating in a research report on Saturday, April 30th. Morgan Stanley lowered their price objective on shares of Watsco from $208.00 to $204.00 and set an “underweight” rating for the company in a research report on Wednesday, July 27th. Stephens lowered their price objective on shares of Watsco to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. Finally, Robert W. Baird raised their price objective on shares of Watsco from $313.00 to $323.00 and gave the company a “maintains” rating in a research report on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $295.40.

Watsco Company Profile

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Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, refrigeration equipment, and related parts and supplies. The company distributes equipment comprising residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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