Royal Bank of Canada Has $108.10 Million Stake in Watsco, Inc. (NYSE:WSO)

Royal Bank of Canada raised its position in Watsco, Inc. (NYSE:WSO - Free Report) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 228,115 shares of the construction company's stock after purchasing an additional 3,301 shares during the quarter. Royal Bank of Canada owned 0.56% of Watsco worth $108,102,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rialto Wealth Management LLC acquired a new stake in shares of Watsco in the 4th quarter valued at about $31,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Watsco in the fourth quarter valued at about $36,000. Atala Financial Inc acquired a new stake in shares of Watsco in the fourth quarter valued at about $49,000. Golden State Wealth Management LLC acquired a new stake in shares of Watsco in the fourth quarter valued at about $50,000. Finally, Tortoise Investment Management LLC increased its position in shares of Watsco by 76.2% in the fourth quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company's stock valued at $70,000 after acquiring an additional 64 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

Watsco Stock Down 0.8%

Shares of NYSE WSO opened at $488.06 on Tuesday. The business's 50 day moving average price is $489.46 and its two-hundred day moving average price is $497.58. The company has a market cap of $19.72 billion, a PE ratio of 36.83 and a beta of 1.11. 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 announced 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 analyst estimates of $1.66 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. Watsco's quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm earned $2.17 EPS. As a group, research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.46%. This is a positive change from Watsco's previous quarterly dividend of $2.70. Watsco's dividend payout ratio (DPR) is 92.24%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WSO. Mizuho set a $490.00 target price on Watsco in a research report on Thursday, April 24th. Robert W. Baird lowered their target price on Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley began coverage on Watsco in a research report on Monday, April 14th. They issued an "equal weight" rating and a $515.00 target price on the stock. Loop Capital lifted their target price on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research report on Thursday, February 27th. Finally, UBS Group lowered their target price on Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $480.83.

Watsco Company 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.

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