Watsco, Inc. (NYSE:WSO) Stake Raised by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lifted its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 37.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,662 shares of the construction company's stock after purchasing an additional 3,720 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Watsco were worth $6,474,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in Watsco during the 4th quarter valued at about $118,312,000. Proficio Capital Partners LLC bought a new position in shares of Watsco in the fourth quarter valued at approximately $63,603,000. Charles Schwab Investment Management Inc. increased its stake in shares of Watsco by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company's stock valued at $649,957,000 after acquiring an additional 118,713 shares during the period. Benjamin Edwards Inc. raised its holdings in Watsco by 2,128.1% during the third quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company's stock worth $52,880,000 after purchasing an additional 102,640 shares in the last quarter. Finally, State Street Corp lifted its position in Watsco by 5.9% in the third quarter. State Street Corp now owns 1,173,762 shares of the construction company's stock worth $577,350,000 after purchasing an additional 65,846 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Watsco Trading Down 3.0 %

Shares of NYSE WSO traded down $14.74 during mid-day trading on Friday, reaching $477.78. The company had a trading volume of 399,342 shares, compared to its average volume of 253,380. The company has a 50-day moving average price of $496.34 and a two-hundred day moving average price of $499.34. The stock has a market cap of $19.30 billion, a PE ratio of 36.06 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 issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, topping analysts' consensus estimates of $2.13 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. On average, research analysts expect that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.51%. This is a positive change from Watsco's previous quarterly dividend of $2.70. Watsco's payout ratio is currently 81.51%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WSO. Raymond James initiated coverage on Watsco in a research note on Friday, January 17th. They issued a "market perform" rating on the stock. Robert W. Baird boosted their price target on shares of Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Finally, Loop Capital upped their price target on shares of Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $486.25.

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.