Watsco, Inc. (NYSE:WSO) Shares Purchased by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP lifted its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 541.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,603 shares of the construction company's stock after buying an additional 6,418 shares during the quarter. Brevan Howard Capital Management LP's holdings in Watsco were worth $3,603,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Rialto Wealth Management LLC acquired a new position in Watsco in the fourth quarter valued at $31,000. Wingate Wealth Advisors Inc. acquired a new position in Watsco during the fourth quarter worth approximately $36,000. Atala Financial Inc purchased a new stake in Watsco in the fourth quarter valued at approximately $49,000. Golden State Wealth Management LLC acquired a new stake in shares of Watsco in the fourth quarter valued at approximately $50,000. Finally, Tortoise Investment Management LLC grew its position in shares of Watsco by 76.2% during the fourth quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company's stock worth $70,000 after acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company's stock.

Wall Street Analyst Weigh In

WSO has been the subject of a number of recent research reports. StockNews.com cut shares of Watsco from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Robert W. Baird decreased their target price on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Loop Capital boosted their price target on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research report on Thursday, February 27th. Morgan Stanley assumed coverage on Watsco in a research note on Monday, April 14th. They set an "equal weight" rating and a $515.00 price objective for the company. Finally, Mizuho set a $490.00 target price on Watsco in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $480.83.

Watsco Trading Up 1.5 %

NYSE WSO opened at $478.95 on Tuesday. The stock has a market capitalization of $19.35 billion, a price-to-earnings ratio of 36.15 and a beta of 1.11. The business's 50 day moving average is $494.16 and its two-hundred day moving average is $497.44. Watsco, Inc. has a 12-month low of $439.08 and a 12-month high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the business earned $2.17 EPS. Equities analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.51%. This is an increase from Watsco's previous quarterly dividend of $2.70. The ex-dividend date of this dividend was Tuesday, April 15th. Watsco's 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.

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