Mackenzie Financial Corp Has $2.44 Million Stock Position in Watsco, Inc. (NYSE:WSO)

Mackenzie Financial Corp trimmed its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 19.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,158 shares of the construction company's stock after selling 1,277 shares during the quarter. Mackenzie Financial Corp's holdings in Watsco were worth $2,444,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Rialto Wealth Management LLC acquired a new stake in Watsco during the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. bought a new position in shares of Watsco during the fourth quarter valued at $36,000. Atala Financial Inc acquired a new position in shares of Watsco during the fourth quarter worth $49,000. Golden State Wealth Management LLC acquired a new position in shares of Watsco during the fourth quarter worth $50,000. Finally, Tortoise Investment Management LLC grew its stake 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 worth $70,000 after purchasing an additional 64 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WSO has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. UBS Group cut their price objective on Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Loop Capital increased their target price on shares of Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research report on Thursday, February 27th. Mizuho set a $490.00 price target on shares of Watsco in a report on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Watsco currently has a consensus rating of "Hold" and an average price target of $486.67.

Watsco Trading Up 2.6%

WSO stock traded up $11.30 during mid-day trading on Tuesday, reaching $445.05. The company's stock had a trading volume of 283,319 shares, compared to its average volume of 257,869. Watsco, Inc. has a 12 month low of $430.20 and a 12 month high of $571.42. The business's 50 day moving average price is $477.10 and its 200 day moving average price is $492.53. The company has a market cap of $18.03 billion, a price-to-earnings ratio of 33.59 and a beta of 1.11.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.36). The company 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%. The business's quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the business earned $2.17 EPS. As a group, equities analysts expect that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.70%. This is a boost from Watsco's previous quarterly dividend of $2.70. The ex-dividend date was Tuesday, April 15th. Watsco's dividend payout ratio (DPR) is presently 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.