InterOcean Capital Group LLC Acquires 32 Shares of Watsco, Inc. (NYSE:WSO)

InterOcean Capital Group LLC lifted its holdings in Watsco, Inc. (NYSE:WSO) by 5.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 570 shares of the construction company’s stock after buying an additional 32 shares during the quarter. InterOcean Capital Group LLC’s holdings in Watsco were worth $246,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in Watsco by 4.5% during the 1st 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 last quarter. Blair William & Co. IL grew its holdings in shares of Watsco by 2.1% during the first quarter. Blair William & Co. IL now owns 792,011 shares of the construction company’s stock valued at $342,125,000 after buying an additional 16,487 shares during the last quarter. Markel Group Inc. grew its holdings in shares of Watsco by 1.7% during the first quarter. Markel Group Inc. now owns 566,250 shares of the construction company’s stock valued at $244,603,000 after buying an additional 9,500 shares during the last quarter. Raymond James & Associates increased its position in shares of Watsco by 1.8% during the first quarter. Raymond James & Associates now owns 366,739 shares of the construction company’s stock valued at $158,420,000 after acquiring an additional 6,436 shares in the last quarter. Finally, Baird Financial Group Inc. raised its holdings in Watsco by 4.8% in the 4th quarter. Baird Financial Group Inc. now owns 340,023 shares of the construction company’s stock worth $145,690,000 after acquiring an additional 15,552 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Performance

Shares of WSO opened at $490.64 on Friday. The firm has a market capitalization of $19.77 billion, a P/E ratio of 37.74 and a beta of 0.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.31. Watsco, Inc. has a one year low of $337.58 and a one year high of $520.41. The business has a fifty day moving average of $481.00 and a 200 day moving average of $438.60.

Watsco (NYSE:WSO) last announced its earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.09). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the previous year, the business posted $2.83 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. As a group, sell-side analysts anticipate that Watsco, Inc. will post 14.1 EPS for the current year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Tuesday, July 16th will be given a dividend of $2.70 per share. The ex-dividend date is Tuesday, July 16th. This represents a $10.80 annualized dividend and a yield of 2.20%. Watsco’s dividend payout ratio (DPR) is 83.08%.

Insider Buying and Selling at Watsco

In other news, Director John Alexander Macdonald sold 5,334 shares of Watsco stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total transaction of $2,487,830.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Barry S. Logan sold 774 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $473.85, for a total transaction of $366,759.90. Following the completion of the transaction, the executive vice president now directly owns 1,770 shares in the company, valued at approximately $838,714.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Alexander Macdonald sold 5,334 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $466.41, for a total transaction of $2,487,830.94. The disclosure for this sale can be found here. 12.86% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on WSO shares. Stephens reiterated an “overweight” rating and set a $500.00 target price on shares of Watsco in a research note on Thursday, April 25th. Robert W. Baird lifted their price objective on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $410.57.

Watsco 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.