Gotham Asset Management LLC Buys 7,448 Shares of Watsco, Inc. (NYSE:WSO)

Gotham Asset Management LLC boosted its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 37.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,076 shares of the construction company's stock after purchasing an additional 7,448 shares during the quarter. Gotham Asset Management LLC owned about 0.07% of Watsco worth $12,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in Watsco by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 3,618,109 shares of the construction company's stock valued at $1,714,586,000 after acquiring an additional 52,127 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Watsco by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company's stock valued at $649,957,000 after acquiring an additional 118,713 shares during the last quarter. Geode Capital Management LLC grew its position in Watsco by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 725,186 shares of the construction company's stock valued at $343,168,000 after acquiring an additional 20,856 shares during the last quarter. Markel Group Inc. grew its position in Watsco by 1.4% during the fourth quarter. Markel Group Inc. now owns 590,500 shares of the construction company's stock valued at $279,832,000 after acquiring an additional 8,000 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Watsco by 2.9% during the fourth quarter. JPMorgan Chase & Co. now owns 477,470 shares of the construction company's stock valued at $226,268,000 after acquiring an additional 13,409 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WSO. Morgan Stanley began coverage on shares of Watsco in a research report on Monday, April 14th. They set an "equal weight" rating and a $515.00 price target on the stock. StockNews.com upgraded shares of Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. UBS Group reduced their price target on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Loop Capital increased their price target on shares of Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research report on Thursday, February 27th. Finally, Robert W. Baird cut their target price on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $480.83.

Watsco Stock Up 2.8%

Shares of Watsco stock traded up $13.23 on Friday, hitting $492.29. The stock had a trading volume of 219,389 shares, compared to its average volume of 253,681. Watsco, Inc. has a one year low of $439.08 and a one year high of $571.42. The stock has a market cap of $19.89 billion, a price-to-earnings ratio of 37.15 and a beta of 1.11. The stock's 50-day simple moving average is $489.80 and its two-hundred day simple moving average is $497.31.

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

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were issued a $3.00 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $12.00 annualized dividend and a yield of 2.44%. This is a boost from Watsco's previous quarterly dividend of $2.70. Watsco's payout ratio is 92.24%.

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.