CANADA LIFE ASSURANCE Co Has $31.87 Million Stake in Watsco, Inc. (NYSE:WSO)

CANADA LIFE ASSURANCE Co grew its position in Watsco, Inc. (NYSE:WSO - Free Report) by 16.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,254 shares of the construction company's stock after purchasing an additional 9,326 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.17% of Watsco worth $31,870,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in Watsco in the 4th quarter valued at $31,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Watsco in the fourth quarter valued at about $36,000. Atala Financial Inc bought a new position in Watsco during the fourth quarter worth about $49,000. Golden State Wealth Management LLC bought a new position in Watsco during the fourth quarter worth about $50,000. Finally, Tortoise Investment Management LLC raised its stake in Watsco by 76.2% in the 4th quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company's stock worth $70,000 after purchasing an additional 64 shares in the last quarter. Institutional investors own 89.71% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on WSO shares. Robert W. Baird lowered 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. Loop Capital raised their price objective 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 started coverage on Watsco in a research report on Friday, January 17th. They set a "market perform" rating for the company. Finally, Morgan Stanley initiated coverage on Watsco in a research report on Monday, April 14th. They issued an "equal weight" rating and a $515.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $488.00.

Watsco Trading Up 1.5 %

NYSE WSO traded up $6.82 on Thursday, hitting $453.22. 186,367 shares of the company's stock were exchanged, compared to its average volume of 286,825. The stock has a 50-day moving average of $501.02 and a 200-day moving average of $499.24. The stock has a market cap of $18.31 billion, a price-to-earnings ratio of 34.19 and a beta of 1.00. Watsco, Inc. has a 52 week low of $428.30 and a 52 week high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 earnings per share 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 business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the company earned $2.17 earnings per share. As a group, analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be paid a $3.00 dividend. This is an increase from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Tuesday, April 15th. Watsco's dividend payout ratio (DPR) is presently 90.57%.

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.