TimesSquare Capital Management LLC Buys 6,190 Shares of Watsco, Inc. (NYSE:WSO)

TimesSquare Capital Management LLC lifted its stake in shares of Watsco, Inc. (NYSE:WSO) by 4.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 131,978 shares of the construction company’s stock after buying an additional 6,190 shares during the quarter. TimesSquare Capital Management LLC owned about 0.33% of Watsco worth $57,011,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Glenmede Trust Co. NA acquired a new position in Watsco in the 3rd quarter valued at $205,000. Royal Bank of Canada grew its stake in shares of Watsco by 19.8% in the third quarter. Royal Bank of Canada now owns 126,534 shares of the construction company’s stock valued at $47,793,000 after acquiring an additional 20,947 shares in the last quarter. Toroso Investments LLC grew its stake in shares of Watsco by 5.4% in the third quarter. Toroso Investments LLC now owns 2,382 shares of the construction company’s stock valued at $900,000 after acquiring an additional 121 shares in the last quarter. Comerica Bank bought a new position in Watsco during the third quarter worth about $15,804,000. Finally, Deutsche Bank AG raised its stake in Watsco by 11.6% in the 3rd quarter. Deutsche Bank AG now owns 31,887 shares of the construction company’s stock worth $12,044,000 after purchasing an additional 3,322 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WSO. Stephens restated an “overweight” rating and issued a $500.00 price target on shares of Watsco in a research report on Thursday, April 25th. Robert W. Baird raised their target price on shares of Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $404.25.

Watsco Trading Up 0.6 %

Watsco stock traded up $2.95 during mid-day trading on Friday, hitting $492.60. 264,287 shares of the stock were exchanged, compared to its average volume of 258,340. The stock has a market capitalization of $19.85 billion, a price-to-earnings ratio of 37.89 and a beta of 0.88. Watsco, Inc. has a 12 month low of $337.58 and a 12 month high of $502.00. The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. The firm’s fifty day simple moving average is $476.80 and its two-hundred day simple moving average is $433.79.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $2.17 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.09). The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. The business’s revenue was up .9% on a year-over-year basis. During the same period last year, the business posted $2.83 earnings per share. Analysts forecast that Watsco, Inc. will post 14.26 EPS for the current year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th will be paid a $2.70 dividend. The ex-dividend date is Tuesday, July 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.19%. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Insider Activity

In other Watsco news, Director John Alexander Macdonald sold 5,334 shares of the company’s 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, 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 value of $2,487,830.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Barry S. Logan sold 774 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $473.85, for a total value of $366,759.90. Following the completion of the transaction, the executive vice president now owns 1,770 shares in the company, valued at approximately $838,714.50. The disclosure for this sale can be found here. Corporate insiders own 12.86% of the company’s stock.

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.