Vanguard Group Inc. Raises Holdings in Watsco, Inc. (NYSE:WSO)

Vanguard Group Inc. raised its position in Watsco, Inc. (NYSE:WSO) by 1.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,618,109 shares of the construction company’s stock after purchasing an additional 52,127 shares during the period. Vanguard Group Inc. owned 8.96% of Watsco worth $1,714,586,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WSO. LPL Financial LLC lifted its stake in shares of Watsco by 21.6% in the fourth quarter. LPL Financial LLC now owns 27,557 shares of the construction company’s stock worth $13,059,000 after buying an additional 4,898 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Watsco in the 4th quarter valued at about $5,592,000. Quantbot Technologies LP raised its holdings in Watsco by 47.0% in the 4th quarter. Quantbot Technologies LP now owns 13,608 shares of the construction company’s stock valued at $6,449,000 after acquiring an additional 4,349 shares during the last quarter. Semanteon Capital Management LP lifted its stake in Watsco by 31.3% in the 4th quarter. Semanteon Capital Management LP now owns 3,036 shares of the construction company’s stock worth $1,439,000 after purchasing an additional 723 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Watsco by 0.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company’s stock worth $3,645,000 after purchasing an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

WSO stock opened at $513.40 on Thursday. The firm has a market cap of $20.74 billion, a PE ratio of 38.75 and a beta of 0.92. Watsco, Inc. has a one year low of $396.82 and a one year high of $571.42. The firm’s 50 day moving average price is $495.56 and its 200-day moving average price is $497.75.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. Equities research analysts predict that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio is presently 81.51%.

Wall Street Analysts Forecast Growth

WSO has been the subject of several recent research reports. Loop Capital increased their price target on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. Raymond James initiated coverage on Watsco in a research note on Friday, January 17th. They issued a “market perform” rating for the company. Finally, Robert W. Baird lifted their price target on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $486.25.

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.