LGT Group Foundation Takes $6.21 Million Position in Watsco, Inc. (NYSE:WSO)

LGT Group Foundation purchased a new position in shares of Watsco, Inc. (NYSE:WSO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,469 shares of the construction company's stock, valued at approximately $6,207,000.

A number of other large investors have also added to or reduced their stakes in WSO. Wetzel Investment Advisors Inc. acquired a new stake in shares of Watsco in the 4th quarter valued at $25,000. Contravisory Investment Management Inc. acquired a new stake in shares of Watsco in the 4th quarter valued at $26,000. Rise Advisors LLC acquired a new stake in shares of Watsco in the 4th quarter valued at $30,000. BKM Wealth Management LLC acquired a new stake in shares of Watsco in the 4th quarter valued at $32,000. Finally, Hartford Financial Management Inc. boosted its holdings in shares of Watsco by 53.1% in the 4th quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company's stock valued at $32,000 after purchasing an additional 26 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WSO shares. Stephens reaffirmed an "overweight" rating and issued a $500.00 target price on shares of Watsco in a report on Thursday, April 25th. Robert W. Baird increased their price target on Watsco from $420.00 to $460.00 and gave the company an "outperform" rating in a research note on Thursday, April 25th. One equities research 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 data from MarketBeat.com, Watsco has an average rating of "Hold" and an average price target of $404.25.

Watsco Trading Up 2.0 %

NYSE:WSO traded up $8.93 during trading hours on Friday, hitting $465.01. 288,780 shares of the company were exchanged, compared to its average volume of 343,499. The stock has a market capitalization of $18.37 billion, a price-to-earnings ratio of 35.09 and a beta of 0.86. The company has a current ratio of 2.92, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a one year low of $315.17 and a one year high of $466.56. The company has a fifty day simple moving average of $417.96 and a 200 day simple moving average of $401.30.

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 the consensus estimate of $2.26 by ($0.09). The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. The firm's revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the business earned $2.83 earnings per share. Sell-side analysts expect that Watsco, Inc. will post 14.25 EPS for the current fiscal year.

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were given a dividend of $2.70 per share. This is a positive change from Watsco's previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Friday, April 12th. Watsco's dividend payout ratio (DPR) is currently 83.08%.

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.