Enhancing Capital LLC Makes New Investment in Watsco, Inc. (NYSE:WSO)

Enhancing Capital LLC purchased a new position in shares of Watsco, Inc. (NYSE:WSO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 793 shares of the construction company's stock, valued at approximately $376,000.

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 in the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Watsco in the 4th quarter worth approximately $36,000. Quarry LP raised its holdings in shares of Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company's stock worth $44,000 after purchasing an additional 33 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Watsco in the 3rd quarter worth approximately $48,000. Finally, Atala Financial Inc bought a new stake in shares of Watsco in the 4th quarter worth approximately $49,000. 89.71% of the stock is currently owned by institutional investors.

Watsco Price Performance

WSO traded down $6.44 on Friday, reaching $495.89. 453,476 shares of the company traded hands, compared to its average volume of 246,240. The stock's 50 day moving average price is $493.43 and its 200-day moving average price is $496.41. Watsco, Inc. has a 52-week low of $396.82 and a 52-week high of $571.42. The company has a market cap of $20.04 billion, a price-to-earnings ratio of 37.43 and a beta of 0.92.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating analysts' consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. As a group, equities research analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

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Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Friday, January 17th. Watsco's dividend payout ratio is 81.51%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Raymond James assumed coverage on shares of Watsco in a report on Friday, January 17th. They issued a "market perform" rating on the stock. Robert W. Baird lifted their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Finally, Loop Capital lifted their target price 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. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Watsco presently has an average rating of "Hold" and a consensus target price of $486.25.

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.