Zurcher Kantonalbank Zurich Cantonalbank Buys 119 Shares of Watsco, Inc. (NYSE:WSO)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Watsco, Inc. (NYSE:WSO) by 0.9% during the first quarter, HoldingsChannel.com reports. The fund owned 13,270 shares of the construction company’s stock after purchasing an additional 119 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Watsco were worth $6,745,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Manitou Investment Management Ltd. acquired a new position in Watsco during the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new position in Watsco in the 1st quarter valued at $25,000. City Holding Co. bought a new position in Watsco in the 1st quarter worth $29,000. Rossby Financial LCC acquired a new position in Watsco during the 1st quarter worth $33,000. Finally, ST Germain D J Co. Inc. boosted its holdings in Watsco by 260.0% during the first quarter. ST Germain D J Co. Inc. now owns 72 shares of the construction company’s stock valued at $37,000 after acquiring an additional 52 shares during the period. 89.71% of the stock is owned by institutional investors.

Watsco Trading Down 4.4%

WSO opened at $444.26 on Thursday. The stock’s 50 day simple moving average is $452.61 and its 200-day simple moving average is $477.10. The stock has a market cap of $18.00 billion, a PE ratio of 34.15 and a beta of 1.04. Watsco, Inc. has a 1 year low of $418.31 and a 1 year high of $571.41.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, July 30th. The construction company reported $4.52 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.32). The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 17.13% and a net margin of 6.98%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.49 EPS. Equities analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 16th will be paid a $3.00 dividend. The ex-dividend date is Wednesday, July 16th. This represents a $12.00 dividend on an annualized basis and a yield of 2.70%. Watsco’s payout ratio is currently 92.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WSO shares. Mizuho set a $490.00 price objective on Watsco in a research note on Thursday, April 24th. Wall Street Zen raised Watsco from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Robert W. Baird reduced their price objective on Watsco from $560.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of Watsco from $445.00 to $460.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 27th. Finally, Morgan Stanley set a $505.00 price target on shares of Watsco in a report on Wednesday, July 2nd. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $484.17.

About Watsco

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.