BI Asset Management Fondsmaeglerselskab A S Buys 1,464 Shares of Watsco, Inc. (NYSE:WSO)

BI Asset Management Fondsmaeglerselskab A S grew its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 243.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,065 shares of the construction company's stock after acquiring an additional 1,464 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Watsco were worth $979,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. My Legacy Advisors LLC grew its stake in Watsco by 3.2% in the fourth quarter. My Legacy Advisors LLC now owns 687 shares of the construction company's stock valued at $329,000 after purchasing an additional 21 shares in the last quarter. Avidian Wealth Enterprises LLC grew its stake in shares of Watsco by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company's stock valued at $567,000 after buying an additional 21 shares in the last quarter. Centennial Wealth Advisory LLC increased its holdings in Watsco by 3.0% during the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company's stock worth $358,000 after buying an additional 22 shares during the last quarter. M&T Bank Corp increased its holdings in Watsco by 1.4% during the fourth quarter. M&T Bank Corp now owns 1,686 shares of the construction company's stock worth $799,000 after buying an additional 23 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Watsco by 0.3% during the fourth 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 acquiring an additional 23 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. StockNews.com lowered shares of Watsco from a "hold" rating to a "sell" rating in a research note on Friday. Morgan Stanley started coverage on Watsco in a research report on Monday, April 14th. They set an "equal weight" rating and a $515.00 price target on the stock. Robert W. Baird cut their price objective on Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Loop Capital lifted their target price on Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research note on Thursday, February 27th. Finally, Raymond James began coverage on Watsco in a research note on Friday, January 17th. They issued a "market perform" rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Watsco currently has an average rating of "Hold" and a consensus price target of $480.83.

Watsco Stock Down 0.9 %

Shares of Watsco stock traded down $4.27 on Tuesday, hitting $451.51. The stock had a trading volume of 47,290 shares, compared to its average volume of 254,593. The stock has a market cap of $18.24 billion, a price-to-earnings ratio of 34.09 and a beta of 1.00. The business's 50 day moving average is $497.77 and its two-hundred day moving average is $498.58. Watsco, Inc. has a twelve month low of $439.08 and a twelve month high of $571.42.

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

Watsco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a $3.00 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a yield of 2.66%. This is an increase from Watsco's previous quarterly dividend of $2.70. Watsco's 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.