Watsco, Inc. (NYSE:WSO) Shares Bought by Impax Asset Management Group plc

Impax Asset Management Group plc boosted its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 235.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,111 shares of the construction company's stock after purchasing an additional 3,588 shares during the period. Impax Asset Management Group plc's holdings in Watsco were worth $2,190,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Schwartz Investment Counsel Inc. grew its stake in Watsco by 133.3% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 56,000 shares of the construction company's stock valued at $23,994,000 after buying an additional 32,000 shares during the last quarter. Confluence Wealth Services Inc. increased its stake in shares of Watsco by 13.2% during the fourth quarter. Confluence Wealth Services Inc. now owns 2,000 shares of the construction company's stock worth $857,000 after purchasing an additional 233 shares during the period. Americana Partners LLC lifted its holdings in Watsco by 13.1% during the 4th quarter. Americana Partners LLC now owns 2,309 shares of the construction company's stock worth $976,000 after purchasing an additional 267 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Watsco by 5.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 16,460 shares of the construction company's stock valued at $7,053,000 after purchasing an additional 785 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in Watsco by 33.3% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 11,919 shares of the construction company's stock valued at $5,093,000 after purchasing an additional 2,977 shares during the period. Institutional investors own 89.71% of the company's stock.

Analyst Ratings Changes

Separately, Robert W. Baird lifted their target price on Watsco from $400.00 to $410.00 and gave the stock an "outperform" rating in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $396.00.

Watsco Price Performance

Shares of NYSE:WSO traded down $8.49 during midday trading on Thursday, hitting $414.85. The stock had a trading volume of 441,505 shares, compared to its average volume of 344,742. The company's 50-day moving average price is $407.49 and its 200-day moving average price is $396.55. Watsco, Inc. has a fifty-two week low of $309.17 and a fifty-two week high of $447.49. The company has a quick ratio of 1.47, a current ratio of 3.36 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $16.39 billion, a P/E ratio of 30.99, a price-to-earnings-growth ratio of 3.46 and a beta of 0.90.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The construction company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.44). Watsco had a return on equity of 21.36% and a net margin of 7.36%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company earned $2.35 earnings per share. Watsco's quarterly revenue was up 1.4% compared to the same quarter last year. As a group, equities research analysts predict that Watsco, Inc. will post 14.21 EPS for the current fiscal year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be paid a $2.70 dividend. This is an increase from Watsco's previous quarterly dividend of $2.45. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, April 12th. Watsco's dividend payout ratio (DPR) is presently 79.06%.

Watsco 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.