Siemens Fonds Invest GmbH Has $1.99 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

Siemens Fonds Invest GmbH increased its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 215.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,193 shares of the construction company's stock after acquiring an additional 2,862 shares during the period. Siemens Fonds Invest GmbH's holdings in Watsco were worth $1,987,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WSO. Rialto Wealth Management LLC bought a new stake in shares of Watsco during the fourth quarter worth $31,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Watsco during the fourth quarter worth approximately $36,000. Atala Financial Inc bought a new stake in shares of Watsco during the 4th quarter valued at $49,000. Golden State Wealth Management LLC acquired a new position in shares of Watsco in the 4th quarter valued at $50,000. Finally, Tortoise Investment Management LLC lifted its stake in shares of Watsco by 76.2% in the 4th quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company's stock valued at $70,000 after purchasing an additional 64 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WSO. Mizuho set a $490.00 price objective on Watsco in a research note on Thursday, April 24th. Robert W. Baird decreased their target price on Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Morgan Stanley initiated coverage on shares of Watsco in a research report on Monday, April 14th. They issued an "equal weight" rating and a $515.00 price target on the stock. Loop Capital lifted their price target on shares of Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research report on Thursday, February 27th. Finally, Wall Street Zen raised Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Watsco currently has an average rating of "Hold" and an average price target of $480.83.

Watsco Trading Down 0.7%

Shares of WSO stock traded down $3.29 on Thursday, hitting $455.13. 82,432 shares of the stock were exchanged, compared to its average volume of 283,480. Watsco, Inc. has a fifty-two week low of $439.08 and a fifty-two week high of $571.41. The business has a 50-day moving average of $488.08 and a 200 day moving average of $497.13. The firm has a market capitalization of $18.39 billion, a P/E ratio of 34.35 and a beta of 1.11.

Watsco (NYSE:WSO - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.36). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The business's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.17 EPS. As a group, research analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Tuesday, April 15th. This is an increase from Watsco's previous quarterly dividend of $2.70. Watsco's dividend payout ratio is presently 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.