Victory Capital Management Inc. Purchases 49,094 Shares of Watsco, Inc. (NYSE:WSO)

Victory Capital Management Inc. increased its position in shares of Watsco, Inc. (NYSE:WSOGet Rating) by 56.8% in the 1st quarter, HoldingsChannel reports. The firm owned 135,522 shares of the construction company’s stock after acquiring an additional 49,094 shares during the quarter. Victory Capital Management Inc.’s holdings in Watsco were worth $36,155,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. raised its stake in Watsco by 4.0% during the fourth quarter. BlackRock Inc. now owns 3,677,204 shares of the construction company’s stock worth $1,150,524,000 after acquiring an additional 141,426 shares in the last quarter. Capital World Investors raised its stake in Watsco by 11.3% during the fourth quarter. Capital World Investors now owns 1,124,403 shares of the construction company’s stock worth $351,803,000 after acquiring an additional 114,330 shares in the last quarter. Renaissance Technologies LLC raised its stake in Watsco by 42.6% during the fourth quarter. Renaissance Technologies LLC now owns 142,700 shares of the construction company’s stock worth $44,648,000 after acquiring an additional 42,600 shares in the last quarter. Walleye Capital LLC raised its stake in Watsco by 1,360.9% during the fourth quarter. Walleye Capital LLC now owns 39,195 shares of the construction company’s stock worth $12,263,000 after acquiring an additional 36,512 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in Watsco by 72.1% during the fourth quarter. Acadian Asset Management LLC now owns 68,660 shares of the construction company’s stock worth $21,469,000 after acquiring an additional 28,765 shares in the last quarter. Institutional investors own 78.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on WSO shares. Morgan Stanley lowered their target price on Watsco from $208.00 to $204.00 and set an “underweight” rating for the company in a research note on Wednesday, July 27th. Stephens lowered their price objective on Watsco to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. KeyCorp lowered their price objective on Watsco from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. Robert W. Baird upped their price objective on Watsco from $313.00 to $323.00 and gave the company a “maintains” rating in a research note on Wednesday, July 27th. Finally, StockNews.com downgraded Watsco from a “buy” rating to a “hold” rating in a research note on Saturday, April 30th. 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $295.40.

Insider Buying and Selling at Watsco

In other Watsco news, Director Cesar L. Alvarez sold 4,000 shares of the 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.31% of the company’s stock.

Watsco Stock Performance

NYSE:WSO opened at $278.82 on Tuesday. The company has a market capitalization of $10.86 billion, a PE ratio of 20.70 and a beta of 0.93. The company has a 50 day simple moving average of $249.04 and a two-hundred day simple moving average of $268.84. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 2.47. Watsco, Inc. has a fifty-two week low of $220.68 and a fifty-two week high of $318.98.

Watsco (NYSE:WSOGet Rating) last released its earnings results on Tuesday, July 26th. The construction company reported $4.93 earnings per share for the quarter, beating analysts’ consensus estimates of $4.82 by $0.11. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.71 EPS. Research analysts anticipate that Watsco, Inc. will post 14.83 earnings per share for the current year.

Watsco Dividend Announcement

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

About Watsco

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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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