Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Watsco, Inc. (NYSE:WSO)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Watsco, Inc. (NYSE:WSO) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,215 shares of the construction company’s stock after purchasing an additional 586 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Watsco were worth $7,048,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in WSO. Norges Bank purchased a new stake in shares of Watsco in the fourth quarter valued at $102,958,000. Motley Fool Asset Management LLC grew its position in shares of Watsco by 263.6% in the first quarter. Motley Fool Asset Management LLC now owns 320,008 shares of the construction company’s stock valued at $138,234,000 after purchasing an additional 231,987 shares during the period. Swedbank AB purchased a new stake in shares of Watsco in the first quarter valued at $90,714,000. Vanguard Group Inc. grew its position in shares of Watsco by 4.5% in the first quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock valued at $1,473,836,000 after purchasing an additional 146,305 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Watsco by 1,005.1% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 103,143 shares of the construction company’s stock valued at $44,194,000 after purchasing an additional 93,810 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on WSO. Robert W. Baird lifted their price objective on Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $433.71.

Watsco Trading Up 0.4 %

Watsco stock traded up $2.10 during midday trading on Friday, reaching $468.78. The stock had a trading volume of 87,419 shares, compared to its average volume of 301,878. The stock’s 50-day simple moving average is $480.58 and its 200 day simple moving average is $451.98. The stock has a market capitalization of $18.89 billion, a PE ratio of 35.92 and a beta of 0.88. Watsco, Inc. has a twelve month low of $338.58 and a twelve month high of $520.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.55 and a current ratio of 3.21.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, July 30th. The construction company reported $4.49 EPS for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.19 billion. Watsco had a return on equity of 18.55% and a net margin of 7.02%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.42 EPS. Analysts expect that Watsco, Inc. will post 13.83 EPS for the current year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th were paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Tuesday, July 16th. Watsco’s dividend payout ratio is presently 83.08%.

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.