Watsco, Inc. (NYSE:WSO) Stake Lifted by TrueMark Investments LLC

TrueMark Investments LLC boosted its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 206.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,231 shares of the construction company's stock after buying an additional 3,524 shares during the period. TrueMark Investments LLC's holdings in Watsco were worth $2,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Rialto Wealth Management LLC acquired a new stake in Watsco during the 4th quarter worth about $31,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Watsco during the fourth quarter worth about $36,000. Quarry LP lifted its holdings 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 during the period. Brooklyn Investment Group purchased a new stake in Watsco in the third quarter valued at approximately $48,000. Finally, Atala Financial Inc acquired a new position in Watsco in the 4th quarter worth approximately $49,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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Watsco Trading Down 2.6 %

WSO stock traded down $13.58 on Friday, hitting $500.42. The company's stock had a trading volume of 226,579 shares, compared to its average volume of 252,562. Watsco, Inc. has a 1 year low of $396.82 and a 1 year high of $571.42. The firm has a 50 day moving average of $496.12 and a two-hundred day moving average of $498.48. The stock has a market cap of $20.22 billion, a price-to-earnings ratio of 37.77 and a beta of 0.92.

Watsco (NYSE:WSO - Get Free Report) last issued its 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. The company had revenue of $1.75 billion for 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%. As a group, equities analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.16%. The ex-dividend date was Friday, January 17th. Watsco's dividend payout ratio (DPR) is presently 81.51%.

Watsco 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.