King Luther Capital Management Corp Raises Stock Position in Watsco, Inc. (NYSE:WSO)

King Luther Capital Management Corp boosted its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 126,875 shares of the construction company's stock after purchasing an additional 4,728 shares during the period. King Luther Capital Management Corp owned about 0.31% of Watsco worth $60,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI grew its holdings in Watsco by 2.5% during the fourth quarter. Citizens Financial Group Inc. RI now owns 3,299 shares of the construction company's stock worth $1,563,000 after acquiring an additional 82 shares during the period. Tortoise Investment Management LLC boosted its position 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. Independent Advisor Alliance acquired a new stake in shares of Watsco during the 4th quarter worth approximately $220,000. Daiwa Securities Group Inc. increased its holdings in shares of Watsco by 3.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,800 shares of the construction company's stock valued at $1,327,000 after purchasing an additional 100 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Watsco by 1.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,151 shares of the construction company's stock worth $6,232,000 after buying an additional 247 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

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Watsco Price Performance

Watsco stock traded up $3.24 during midday trading on Wednesday, reaching $508.73. The company had a trading volume of 204,297 shares, compared to its average volume of 273,058. The firm's fifty day simple moving average is $487.87 and its 200-day simple moving average is $494.76. The company has a market capitalization of $20.54 billion, a P/E ratio of 38.38 and a beta of 0.92. Watsco, Inc. has a 12-month low of $393.88 and a 12-month high of $571.41.

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

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.12%. Watsco's dividend payout ratio is presently 81.51%.

Analyst Ratings Changes

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

Insider Buying and Selling at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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.