Epoch Investment Partners Inc. Has $48.55 Million Stock Holdings in Watsco, Inc. $WSO

Epoch Investment Partners Inc. reduced its stake in Watsco, Inc. (NYSE:WSO) by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 133,469 shares of the construction company’s stock after selling 1,662 shares during the period. Epoch Investment Partners Inc. owned 0.33% of Watsco worth $48,555,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Torren Management LLC bought a new stake in Watsco in the 4th quarter valued at about $26,000. Bayban bought a new position in Watsco in the fourth quarter worth approximately $29,000. Bamco Inc. NY bought a new position in Watsco in the fourth quarter worth approximately $35,000. Laurel Wealth Advisors LLC acquired a new stake in Watsco in the fourth quarter valued at approximately $37,000. Finally, Quarry LP acquired a new stake in Watsco in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

WSO stock opened at $362.43 on Friday. The business has a 50-day simple moving average of $384.38 and a two-hundred day simple moving average of $393.21. The company has a market capitalization of $14.74 billion, a P/E ratio of 30.08 and a beta of 1.02. Watsco, Inc. has a 52-week low of $323.05 and a 52-week high of $493.66.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, April 28th. The construction company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.73 by $0.14. Watsco had a return on equity of 15.31% and a net margin of 6.85%.The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the business posted $1.93 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. As a group, sell-side analysts forecast that Watsco, Inc. will post 12.9 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 16th will be issued a dividend of $3.30 per share. The ex-dividend date is Thursday, July 16th. This represents a $13.20 annualized dividend and a yield of 3.6%. Watsco’s dividend payout ratio is 109.54%.

Analysts Set New Price Targets

WSO has been the subject of several recent research reports. Stephens boosted their price objective on Watsco from $475.00 to $485.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Wall Street Zen raised shares of Watsco from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Morgan Stanley lifted their price target on shares of Watsco from $370.00 to $405.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. DA Davidson assumed coverage on shares of Watsco in a research note on Tuesday, June 16th. They set a “neutral” rating and a $385.00 price target for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Watsco in a report on Friday, June 26th. One research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $402.71.

About Watsco

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.