Nomura Holdings Inc. Takes Position in Watsco, Inc. (NYSE:WSO)

Nomura Holdings Inc. acquired a new position in shares of Watsco, Inc. (NYSE:WSO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,622 shares of the construction company's stock, valued at approximately $2,190,000.

Several other large investors have also recently added to or reduced their stakes in WSO. My Legacy Advisors LLC increased its position in shares of 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 acquiring an additional 21 shares during the last quarter. Avidian Wealth Enterprises LLC raised its stake in Watsco by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company's stock worth $567,000 after acquiring an additional 21 shares in the last quarter. Centennial Wealth Advisory LLC increased its holdings in shares of 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 in the last quarter. M&T Bank Corp increased its holdings in Watsco by 1.4% in the fourth quarter. M&T Bank Corp now owns 1,686 shares of the construction company's stock valued at $799,000 after purchasing an additional 23 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted 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 valued at $3,645,000 after acquiring an additional 23 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

Analyst Ratings Changes

WSO has been the topic of several recent research reports. Robert W. Baird dropped their price target on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. StockNews.com upgraded shares of Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Mizuho set a $490.00 price objective on shares of Watsco in a research report on Thursday, April 24th. Morgan Stanley initiated coverage on Watsco in a research note on Monday, April 14th. They set an "equal weight" rating and a $515.00 target price on the stock. Finally, Loop Capital raised their price target on Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research note on Thursday, February 27th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Watsco currently has a consensus rating of "Hold" and an average target price of $480.83.

Watsco Trading Down 3.6%

Shares of Watsco stock traded down $17.81 during trading hours on Tuesday, reaching $470.38. The stock had a trading volume of 345,916 shares, compared to its average volume of 254,094. Watsco, Inc. has a twelve month low of $439.08 and a twelve month high of $571.42. The stock's 50 day moving average is $489.46 and its 200 day moving average is $497.58. The firm has a market capitalization of $19.01 billion, a PE ratio of 35.50 and a beta of 1.11.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly 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 during the quarter, compared to analysts' expectations of $1.66 billion. During the same period last year, the company earned $2.17 EPS. The business's quarterly revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts predict 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. Shareholders of record on Tuesday, April 15th were paid a $3.00 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This is a positive change from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a yield of 2.55%. 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.