Norges Bank Purchases New Position in Watsco, Inc. (NYSE:WSO)

Norges Bank acquired a new stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 249,661 shares of the construction company's stock, valued at approximately $118,312,000. Norges Bank owned 0.62% of Watsco at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of WSO. My Legacy Advisors LLC increased its position in Watsco by 3.2% in the fourth quarter. My Legacy Advisors LLC now owns 687 shares of the construction company's stock worth $329,000 after buying an additional 21 shares in the last quarter. Avidian Wealth Enterprises LLC raised its stake in Watsco by 1.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company's stock worth $567,000 after acquiring an additional 21 shares during the period. Centennial Wealth Advisory LLC lifted its holdings in Watsco by 3.0% during the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company's stock valued at $358,000 after purchasing an additional 22 shares in the last quarter. M&T Bank Corp boosted its position in shares of Watsco by 1.4% in the fourth quarter. M&T Bank Corp now owns 1,686 shares of the construction company's stock worth $799,000 after purchasing an additional 23 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Watsco by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company's stock worth $3,645,000 after purchasing an additional 23 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WSO has been the subject of several recent analyst reports. Raymond James started coverage on shares of Watsco in a report on Friday, January 17th. They issued a "market perform" rating for the company. Robert W. Baird increased their target price on 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 lifted their target price on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research note on Thursday, February 27th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $486.25.

Watsco Trading Down 3.0 %

Shares of NYSE:WSO traded down $14.74 during trading on Friday, reaching $477.78. The company's stock had a trading volume of 399,342 shares, compared to its average volume of 253,380. The firm's 50 day simple moving average is $496.34 and its two-hundred day simple moving average is $499.34. Watsco, Inc. has a 12 month low of $396.82 and a 12 month high of $571.42. The stock has a market capitalization of $19.30 billion, a PE ratio of 36.06 and a beta of 1.00.

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, topping the consensus estimate of $2.13 by $0.24. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. Research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

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

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.