IFM Investors Pty Ltd Takes Position in Watsco, Inc. (NYSE:WSO)

IFM Investors Pty Ltd bought a new position in shares of Watsco, Inc. (NYSE:WSO - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,233 shares of the construction company's stock, valued at approximately $3,124,000.

A number of other large investors have also recently made changes to their positions in WSO. CWM LLC increased its stake in shares of Watsco by 44.3% during the third quarter. CWM LLC now owns 645 shares of the construction company's stock worth $244,000 after buying an additional 198 shares during the period. Asset Management One Co. Ltd. increased its stake in Watsco by 5.3% in the third quarter. Asset Management One Co. Ltd. now owns 13,985 shares of the construction company's stock valued at $5,282,000 after purchasing an additional 703 shares during the last quarter. Fenimore Asset Management Inc. increased its stake in Watsco by 0.7% in the third quarter. Fenimore Asset Management Inc. now owns 48,650 shares of the construction company's stock valued at $18,376,000 after purchasing an additional 331 shares during the last quarter. Lindenwold Advisors INC increased its stake in Watsco by 2.1% in the third quarter. Lindenwold Advisors INC now owns 2,563 shares of the construction company's stock valued at $968,000 after purchasing an additional 53 shares during the last quarter. Finally, Valeo Financial Advisors LLC purchased a new position in Watsco in the third quarter valued at approximately $377,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Stock Performance

Shares of WSO traded down $0.79 during mid-day trading on Friday, reaching $443.21. 277,114 shares of the company's stock were exchanged, compared to its average volume of 313,812. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.47. The stock has a market capitalization of $17.51 billion, a PE ratio of 34.09 and a beta of 0.90. The business's fifty day simple moving average is $412.36 and its 200-day simple moving average is $399.77. Watsco, Inc. has a 52-week low of $315.17 and a 52-week high of $451.29.

Watsco (NYSE:WSO - Get Free Report) last announced its earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.26 by ($0.09). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The business had revenue of $1.56 billion for the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter last year, the business posted $2.83 earnings per share. The business's revenue was up .9% on a year-over-year basis. On average, equities research analysts expect that Watsco, Inc. will post 14.19 earnings per share for the current year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be issued a dividend of $2.70 per share. The ex-dividend date is Friday, April 12th. This is an increase from Watsco's previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a dividend yield of 2.44%. Watsco's dividend payout ratio (DPR) is currently 83.08%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Stephens reiterated an "overweight" rating and issued a $500.00 price target on shares of Watsco in a research note on Thursday. Robert W. Baird increased their price target on shares of Watsco from $420.00 to $460.00 and gave the company an "outperform" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $404.25.

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.