FORA Capital LLC Takes $1.50 Million Position in Watsco, Inc. (NYSE:WSO)

FORA Capital LLC acquired a new position in Watsco, Inc. (NYSE:WSO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,170 shares of the construction company's stock, valued at approximately $1,502,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WSO. Rialto Wealth Management LLC acquired a new position in Watsco in the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. acquired a new position in Watsco in the 4th quarter worth approximately $36,000. Atala Financial Inc acquired a new position in Watsco in the 4th quarter worth approximately $49,000. Golden State Wealth Management LLC acquired a new position in Watsco in the 4th quarter worth approximately $50,000. Finally, Tortoise Investment Management LLC boosted its stake in Watsco by 76.2% in the 4th quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company's stock worth $70,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 89.71% of the company's stock.

Watsco Stock Performance

Shares of Watsco stock traded up $6.77 during midday trading on Friday, reaching $476.20. 184,505 shares of the company's stock traded hands, compared to its average volume of 252,690. The company has a market cap of $19.24 billion, a price-to-earnings ratio of 35.94 and a beta of 1.11. The company's 50 day simple moving average is $492.18 and its 200 day simple moving average is $497.23. Watsco, Inc. has a 52 week low of $439.08 and a 52 week high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share for the quarter, missing analysts' consensus estimates of $2.29 by ($0.36). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.17 EPS. As a group, equities research analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.52%. The ex-dividend date was Tuesday, April 15th. This is an increase from Watsco's previous quarterly dividend of $2.70. Watsco's dividend payout ratio (DPR) is 92.24%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WSO shares. Morgan Stanley started coverage on shares of Watsco in a research note on Monday, April 14th. They set an "equal weight" rating and a $515.00 target price for the company. Raymond James started coverage on shares of Watsco in a research note on Friday, January 17th. They set a "market perform" rating for the company. Robert W. Baird decreased their target price on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. StockNews.com raised shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday. Finally, Mizuho set a $490.00 target price on shares of Watsco in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $480.83.

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.