Watsco, Inc. (NYSE:WSO) Shares Purchased by LGT Group Foundation

LGT Group Foundation increased its stake in shares of Watsco, Inc. (NYSE:WSO) by 11.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,946 shares of the construction company’s stock after acquiring an additional 2,958 shares during the period. LGT Group Foundation’s holdings in Watsco were worth $13,243,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC boosted its position in Watsco by 10.6% during the third quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after purchasing an additional 346,470 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Watsco during the fourth quarter worth approximately $63,603,000. Benjamin Edwards Inc. boosted its position in Watsco by 2,128.1% during the third quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock worth $52,880,000 after purchasing an additional 102,640 shares in the last quarter. State Street Corp boosted its position in Watsco by 5.9% during the third quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock worth $577,350,000 after purchasing an additional 65,846 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Watsco by 9.9% during the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock worth $345,783,000 after purchasing an additional 63,254 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WSO. Northcoast Research began coverage on Watsco in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Raymond James assumed coverage on Watsco in a research report on Friday, January 17th. They set a “market perform” rating on the stock. Loop Capital raised their target price on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Robert W. Baird raised their target price on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $486.25.

Watsco Price Performance

NYSE WSO opened at $503.80 on Monday. The company has a market cap of $20.34 billion, a PE ratio of 38.02 and a beta of 0.95. The stock’s 50 day simple moving average is $485.23 and its 200-day simple moving average is $493.54. Watsco, Inc. has a 1-year low of $388.47 and a 1-year high of $571.41.

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

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.14%. Watsco’s dividend payout ratio is presently 81.51%.

Insider Activity

In related news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.86% of the company’s stock.

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.