Watsco, Inc. (NYSE:WSO) Shares Purchased by Northern Trust Corp

Northern Trust Corp boosted its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 25.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 333,348 shares of the construction company's stock after buying an additional 67,649 shares during the period. Northern Trust Corp owned 0.83% of Watsco worth $157,970,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new stake in Watsco in the 4th quarter valued at $31,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Watsco during the fourth quarter worth about $36,000. Atala Financial Inc purchased a new position in shares of Watsco during the fourth quarter worth about $49,000. Golden State Wealth Management LLC acquired a new position in Watsco in the 4th quarter valued at about $50,000. Finally, Tortoise Investment Management LLC raised its stake in Watsco by 76.2% during the 4th quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company's stock valued at $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.

Watsco Stock Up 2.5 %

NYSE:WSO opened at $472.80 on Friday. The firm's fifty day simple moving average is $494.54 and its 200-day simple moving average is $497.63. The stock has a market cap of $19.10 billion, a PE ratio of 35.68 and a beta of 1.11. Watsco, Inc. has a fifty-two week low of $439.08 and a fifty-two week high of $571.42.

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 analysts' consensus estimates of $2.29 by ($0.36). Watsco had a net margin of 7.04% and a return on equity of 17.59%. The company had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.66 billion. During the same period last year, the business posted $2.17 earnings per share. The company's quarterly revenue was down 2.2% on a year-over-year basis. Equities analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were issued a dividend of $3.00 per share. The ex-dividend date was Tuesday, April 15th. This is a boost from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a yield of 2.54%. Watsco's payout ratio is currently 92.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WSO shares. Raymond James assumed coverage on Watsco in a report on Friday, January 17th. They issued a "market perform" rating on the stock. UBS Group dropped their price objective on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Robert W. Baird reduced 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. Mizuho set a $490.00 price target on shares of Watsco in a research note on Thursday, April 24th. Finally, StockNews.com cut shares of Watsco from a "hold" rating to a "sell" rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Watsco presently has an average rating of "Hold" and a consensus target price of $480.83.

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.

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