Motley Fool Asset Management LLC Increases Stake in Watsco, Inc. (NYSE:WSO)

Motley Fool Asset Management LLC increased its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,206 shares of the construction company's stock after purchasing an additional 678 shares during the period. Watsco accounts for 1.3% of Motley Fool Asset Management LLC's holdings, making the stock its 18th biggest holding. Motley Fool Asset Management LLC owned about 0.13% of Watsco worth $25,214,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Rialto Wealth Management LLC bought a new position in shares of Watsco during the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. purchased a new position in Watsco in the fourth quarter worth $36,000. Quarry LP increased its position in shares of Watsco by 57.9% during the third 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. Atala Financial Inc purchased a new stake in shares of Watsco during the 4th quarter valued at $49,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Watsco during the 4th quarter valued at $50,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on WSO shares. Robert W. Baird upped their target price on Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Loop Capital increased their price objective on shares of 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 started coverage on shares of Watsco in a research note on Friday, January 17th. They issued a "market perform" rating for the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Watsco presently has an average rating of "Hold" and a consensus target price of $486.25.

Watsco Price Performance

Watsco stock traded up $12.88 during trading hours on Tuesday, hitting $485.58. 62,317 shares of the stock traded hands, compared to its average volume of 253,304. Watsco, Inc. has a 1 year low of $396.82 and a 1 year high of $571.42. The stock has a market capitalization of $19.62 billion, a price-to-earnings ratio of 36.79 and a beta of 1.00. The firm's 50 day moving average price is $496.01 and its 200-day moving average price is $499.24.

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

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, April 15th. 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 yield of 2.47%. Watsco's payout ratio is currently 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.