LGT Group Foundation Raises Stock Position in Watsco, Inc. (NYSE:WSO)

LGT Group Foundation lifted its position in Watsco, Inc. (NYSE:WSO - Free Report) by 11.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,946 shares of the construction company's stock after purchasing an additional 2,958 shares during the quarter. LGT Group Foundation owned about 0.07% of Watsco worth $13,243,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC raised its holdings in shares of Watsco by 10.6% in the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock valued at $1,782,651,000 after acquiring an additional 346,470 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Watsco by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company's stock valued at $616,357,000 after purchasing an additional 62,041 shares in the last quarter. State Street Corp lifted its position in Watsco by 5.9% during the third 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. Geode Capital Management LLC grew its stake in Watsco by 9.9% in the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company's stock worth $345,783,000 after buying an additional 63,254 shares in the last quarter. Finally, Markel Group Inc. increased its holdings in shares of Watsco by 2.0% in the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company's stock worth $286,520,000 after buying an additional 11,250 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Northcoast Research assumed coverage on shares of Watsco in a report on Friday, November 22nd. They set a "neutral" rating for the company. Robert W. Baird lifted their price target on Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Loop Capital increased their price objective on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research report on Thursday, February 27th. Finally, Raymond James began coverage on Watsco in a research report on Friday, January 17th. They issued a "market perform" rating for the company. 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.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $486.25.

Insider Activity at Watsco

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

Watsco Trading Up 0.4 %

Shares of NYSE:WSO traded up $1.86 on Wednesday, reaching $496.16. 8,186 shares of the company traded hands, compared to its average volume of 248,284. The stock has a market capitalization of $20.04 billion, a P/E ratio of 37.51 and a beta of 0.95. The business's 50-day simple moving average is $485.38 and its 200 day simple moving average is $493.80. Watsco, Inc. has a 52 week low of $388.47 and a 52 week high of $571.41.

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

Watsco Dividend Announcement

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

Watsco 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.