Renaissance Technologies LLC Grows Position in Watsco, Inc. (NYSE:WSO)

Renaissance Technologies LLC lifted its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 134.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,400 shares of the construction company's stock after purchasing an additional 35,800 shares during the quarter. Renaissance Technologies LLC owned 0.15% of Watsco worth $29,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of WSO. Rialto Wealth Management LLC bought a new position in Watsco in the fourth quarter valued at about $31,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Watsco in the fourth quarter worth $36,000. Atala Financial Inc bought a new stake in Watsco during the fourth quarter valued at about $49,000. Golden State Wealth Management LLC purchased a new position in shares of Watsco in the fourth quarter valued at about $50,000. Finally, Tortoise Investment Management LLC boosted its stake in shares of Watsco by 76.2% in the fourth quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company's stock worth $70,000 after acquiring an additional 64 shares during the period. Hedge funds and other institutional investors own 89.71% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Loop Capital boosted their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a report on Thursday, February 27th. Robert W. Baird increased their price target on Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Morgan Stanley began coverage on Watsco in a research note on Monday. They issued an "equal weight" rating and a $515.00 price objective on the stock. Finally, Raymond James began coverage on shares of Watsco in a report on Friday, January 17th. They issued a "market perform" rating for the company. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $492.00.

Watsco Trading Up 1.9 %

NYSE:WSO traded up $9.58 during midday trading on Thursday, hitting $507.26. 53,754 shares of the company traded hands, compared to its average volume of 253,284. The firm's fifty day moving average is $499.21 and its 200-day moving average is $499.12. The firm has a market capitalization of $20.50 billion, a P/E ratio of 38.14 and a beta of 1.00. Watsco, Inc. has a 12-month low of $396.82 and a 12-month 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 EPS for the quarter, beating 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. On average, research analysts expect that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The business 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. This is a positive change from Watsco's previous quarterly dividend of $2.70. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a yield of 2.37%. Watsco's dividend payout ratio (DPR) is presently 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.