LRI Investments LLC Has $148,000 Stake in Watsco, Inc. (NYSE:WSO)

LRI Investments LLC decreased its stake in shares of Watsco, Inc. (NYSE:WSO) by 38.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 290 shares of the construction company’s stock after selling 182 shares during the period. LRI Investments LLC’s holdings in Watsco were worth $148,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Watsco by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 3,618,109 shares of the construction company’s stock valued at $1,714,586,000 after acquiring an additional 52,127 shares during the last quarter. Geode Capital Management LLC grew its holdings in Watsco by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 725,186 shares of the construction company’s stock valued at $343,168,000 after buying an additional 20,856 shares during the last quarter. GAMMA Investing LLC grew its holdings in Watsco by 89,376.0% in the 1st quarter. GAMMA Investing LLC now owns 477,802 shares of the construction company’s stock valued at $242,867,000 after buying an additional 477,268 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Watsco by 2.9% in the 4th quarter. JPMorgan Chase & Co. now owns 477,470 shares of the construction company’s stock valued at $226,268,000 after buying an additional 13,409 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Watsco by 25.5% in the 4th quarter. Northern Trust Corp now owns 333,348 shares of the construction company’s stock valued at $157,970,000 after buying an additional 67,649 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

Watsco stock opened at $472.30 on Tuesday. The company has a market capitalization of $19.13 billion, a PE ratio of 36.30 and a beta of 1.04. Watsco, Inc. has a one year low of $418.31 and a one year high of $571.42. The business has a 50 day simple moving average of $453.34 and a 200 day simple moving average of $476.89.

Watsco (NYSE:WSO) last posted its earnings results on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.36). The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. Watsco had a return on equity of 17.13% and a net margin of 6.98%. Watsco’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.17 EPS. Equities analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 16th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Wednesday, July 16th. This represents a $12.00 annualized dividend and a dividend yield of 2.54%. Watsco’s dividend payout ratio (DPR) is presently 92.24%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WSO. Wall Street Zen raised Watsco from a “sell” rating to a “hold” rating in a 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. raised their price objective on Watsco from $445.00 to $460.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 27th. UBS Group reduced their price objective on Watsco from $455.00 to $450.00 and set a “neutral” rating for the company in a research report on Wednesday, June 25th. Finally, Mizuho set a $490.00 price objective on Watsco in a research report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Watsco has a consensus rating of “Hold” and an average target price of $484.17.

Watsco Company 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.