Bahl & Gaynor Inc. Has $119.20 Million Holdings in Watsco, Inc. (NYSE:WSO)

Bahl & Gaynor Inc. boosted its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 251,529 shares of the construction company's stock after acquiring an additional 12,896 shares during the quarter. Bahl & Gaynor Inc. owned 0.62% of Watsco worth $119,197,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Watsco by 10.6% during the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock worth $1,782,651,000 after purchasing an additional 346,470 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Watsco during the 4th quarter worth approximately $63,603,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Watsco by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company's stock worth $649,957,000 after acquiring an additional 118,713 shares during the last quarter. Benjamin Edwards Inc. raised its stake in Watsco by 2,128.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company's stock valued at $52,880,000 after acquiring an additional 102,640 shares during the period. Finally, State Street Corp lifted its holdings in Watsco by 5.9% during the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company's stock valued at $577,350,000 after purchasing an additional 65,846 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Northcoast Research started coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a "neutral" rating on the stock. Loop Capital increased their target price on Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research note on Thursday, February 27th. Raymond James initiated coverage on Watsco in a research note on Friday, January 17th. They issued a "market perform" rating for the company. Finally, Robert W. Baird increased their price objective on Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $486.25.

Watsco Stock Up 1.5 %

Shares of NYSE:WSO traded up $7.40 during trading on Wednesday, reaching $501.70. 173,003 shares of the company traded hands, compared to its average volume of 251,971. Watsco, Inc. has a 52 week low of $388.47 and a 52 week high of $571.41. The firm has a market capitalization of $20.26 billion, a PE ratio of 37.83 and a beta of 0.95. The company's 50 day moving average is $485.38 and its two-hundred day moving average is $493.80.

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

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were paid a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.15%. Watsco's payout ratio is 81.51%.

Insider Transactions at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the business's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.86% of the stock is owned by insiders.

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.