Mackenzie Financial Corp Purchases Shares of 5,873 Watsco, Inc. (NYSE:WSO)

Mackenzie Financial Corp bought a new position in Watsco, Inc. (NYSE:WSO - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,873 shares of the construction company's stock, valued at approximately $2,516,000.

Other institutional investors also recently modified their holdings of the company. Contravisory Investment Management Inc. bought a new stake in Watsco during the fourth quarter worth about $26,000. Rise Advisors LLC bought a new stake in Watsco in the fourth quarter worth $30,000. BKM Wealth Management LLC purchased a new stake in shares of Watsco in the fourth quarter worth $32,000. Hartford Financial Management Inc. increased its holdings in shares of Watsco by 53.1% during the fourth quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company's stock valued at $32,000 after acquiring an additional 26 shares in the last quarter. Finally, Allworth Financial LP raised its position in shares of Watsco by 44.1% in the 4th quarter. Allworth Financial LP now owns 98 shares of the construction company's stock worth $42,000 after purchasing an additional 30 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Performance

WSO traded up $7.21 during midday trading on Tuesday, hitting $413.71. 465,686 shares of the company traded hands, compared to its average volume of 341,092. The company's 50-day moving average is $409.13 and its 200 day moving average is $398.83. 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 firm has a market capitalization of $16.34 billion, a PE ratio of 30.29 and a beta of 0.89. Watsco, Inc. has a 52 week low of $315.17 and a 52 week high of $447.49.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.65 billion. Watsco had a net margin of 7.36% and a return on equity of 21.36%. Watsco's quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.35 earnings per share. On average, research analysts expect that Watsco, Inc. will post 14.19 EPS for the current year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a dividend of $2.70 per share. This is a boost from Watsco's previous quarterly dividend of $2.45. This represents a $10.80 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Friday, April 12th. Watsco's dividend payout ratio is currently 79.06%.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird raised their price objective on shares of Watsco from $400.00 to $410.00 and gave the company an "outperform" rating in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $398.00.

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.