Raiffeisen Bank International AG Takes $286,000 Position in Watsco, Inc. (NYSE:WSO)

Raiffeisen Bank International AG bought a new position in Watsco, Inc. (NYSE:WSO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 603 shares of the construction company's stock, valued at approximately $286,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. ProShare Advisors LLC increased its holdings in shares of Watsco by 7.4% in the 4th quarter. ProShare Advisors LLC now owns 1,629 shares of the construction company's stock worth $772,000 after acquiring an additional 112 shares during the period. Quantinno Capital Management LP grew its position in Watsco by 5.4% in the 4th quarter. Quantinno Capital Management LP now owns 6,558 shares of the construction company's stock worth $3,108,000 after purchasing an additional 337 shares during the last quarter. Man Group plc grew its position in Watsco by 26.8% in the 4th quarter. Man Group plc now owns 17,474 shares of the construction company's stock worth $8,281,000 after purchasing an additional 3,688 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Watsco in the fourth quarter valued at approximately $2,190,000. Finally, OMERS ADMINISTRATION Corp raised its holdings in shares of Watsco by 20.9% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 1,418 shares of the construction company's stock valued at $672,000 after buying an additional 245 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Performance

Shares of WSO stock traded down $2.47 during mid-day trading on Friday, hitting $453.62. 40,317 shares of the stock traded hands, compared to its average volume of 282,664. Watsco, Inc. has a twelve month low of $439.08 and a twelve month high of $571.41. The company's 50-day simple moving average is $486.97 and its 200-day simple moving average is $496.98. The firm has a market cap of $18.38 billion, a price-to-earnings ratio of 34.24 and a beta of 1.11.

Watsco (NYSE:WSO - Get Free Report) last announced its earnings results 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). Watsco had a net margin of 7.04% and a return on equity of 17.59%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the business earned $2.17 EPS. The company's quarterly revenue was down 2.2% compared to the same quarter last year. Analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were paid a $3.00 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $12.00 annualized dividend and a dividend yield of 2.65%. This is a boost from Watsco's previous quarterly dividend of $2.70. Watsco's payout ratio is currently 92.24%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Loop Capital increased their price objective on Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a report on Thursday, February 27th. Robert W. Baird reduced their price target on Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Mizuho set a $490.00 price target on Watsco in a report on Thursday, April 24th. Wall Street Zen upgraded shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Finally, Morgan Stanley initiated coverage on shares of Watsco in a research report on Monday, April 14th. They issued an "equal weight" rating and a $515.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $480.83.

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.