Watsco, Inc. (NYSE:WSO) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI boosted its position in Watsco, Inc. (NYSE:WSO - Free Report) by 15.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,499 shares of the construction company's stock after purchasing an additional 754 shares during the period. National Bank of Canada FI's holdings in Watsco were worth $2,606,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in WSO. Toronto Dominion Bank lifted its holdings in shares of Watsco by 32.2% in the 3rd quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company's stock valued at $2,094,000 after buying an additional 1,038 shares during the period. Franklin Resources Inc. lifted its holdings in Watsco by 5.6% in the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company's stock valued at $25,645,000 after acquiring an additional 2,738 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Watsco by 9.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company's stock worth $228,263,000 after purchasing an additional 41,845 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Watsco during the 4th quarter worth $10,446,000. Finally, AEGON ASSET MANAGEMENT UK Plc increased its holdings in shares of Watsco by 15.1% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 139,157 shares of the construction company's stock valued at $65,966,000 after purchasing an additional 18,279 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company's stock.

Watsco Stock Performance

WSO stock traded up $10.63 on Friday, reaching $509.76. The company had a trading volume of 214,485 shares, compared to its average volume of 254,309. The company's fifty day moving average is $496.96 and its 200 day moving average is $498.92. The company has a market cap of $20.60 billion, a P/E ratio of 38.47 and a beta of 1.00. Watsco, Inc. has a 1 year low of $396.82 and a 1 year high of $571.42.

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 analysts' consensus estimates 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%. On average, sell-side analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a $3.00 dividend. This is a boost from Watsco's previous quarterly dividend of $2.70. The ex-dividend date is Tuesday, April 15th. This represents a $12.00 annualized dividend and a yield of 2.35%. Watsco's payout ratio is 90.57%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Loop Capital upped their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research report on Thursday, February 27th. Raymond James initiated coverage on Watsco in a report on Friday, January 17th. They issued a "market perform" rating on the stock. Finally, Robert W. Baird lifted their price objective on Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $486.25.

About Watsco

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.