Aquatic Capital Management LLC Purchases New Holdings in Watsco, Inc. (NYSE:WSO)

Aquatic Capital Management LLC bought a new position in shares of Watsco, Inc. (NYSE:WSO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,487 shares of the construction company's stock, valued at approximately $2,600,000.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Watsco in the 4th quarter valued at $118,312,000. Lord Abbett & CO. LLC bought a new position in Watsco during the fourth quarter valued at $104,533,000. Proficio Capital Partners LLC purchased a new stake in Watsco in the 4th quarter worth about $63,603,000. Charles Schwab Investment Management Inc. boosted its holdings in Watsco by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company's stock valued at $649,957,000 after acquiring an additional 118,713 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Watsco by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 3,618,109 shares of the construction company's stock valued at $1,714,586,000 after buying an additional 52,127 shares in the last quarter. Institutional investors own 89.71% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. StockNews.com downgraded Watsco from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Morgan Stanley began coverage on shares of Watsco in a research report on Monday, April 14th. They set an "equal weight" rating and a $515.00 price target for the company. Mizuho set a $490.00 price objective on shares of Watsco in a report on Thursday, April 24th. UBS Group cut their price target on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Finally, Raymond James started coverage on Watsco in a report on Friday, January 17th. They issued a "market perform" rating on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $480.83.

Watsco Price Performance

Shares of NYSE:WSO traded up $2.56 during midday trading on Thursday, reaching $462.40. The company had a trading volume of 186,792 shares, compared to its average volume of 254,934. The stock has a market capitalization of $18.68 billion, a P/E ratio of 34.90 and a beta of 1.00. The stock's fifty day moving average price is $495.03 and its 200-day moving average price is $497.77. Watsco, Inc. has a one year low of $439.08 and a one year high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.29 by ($0.36). The company had revenue of $1.53 billion during 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 business's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.17 EPS. As a group, sell-side analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were issued a dividend of $3.00 per share. This is a positive change from Watsco's previous quarterly dividend of $2.70. The ex-dividend date was Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.60%. Watsco's dividend payout ratio is currently 92.24%.

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.