Victory Capital Management Inc. Buys 3,618 Shares of Watsco, Inc. (NYSE:WSO)

Victory Capital Management Inc. increased its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 15.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,760 shares of the construction company's stock after buying an additional 3,618 shares during the period. Victory Capital Management Inc. owned 0.07% of Watsco worth $12,681,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in WSO. FMR LLC increased its holdings in shares of Watsco by 10.6% in the third quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock valued at $1,782,651,000 after purchasing an additional 346,470 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Watsco in the fourth quarter valued at $63,603,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Watsco by 9.5% in 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 purchasing an additional 118,713 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Watsco by 2,128.1% in the third quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company's stock valued at $52,880,000 after purchasing an additional 102,640 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Watsco by 5.9% in the third quarter. State Street Corp now owns 1,173,762 shares of the construction company's stock valued at $577,350,000 after purchasing an additional 65,846 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of the company's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 12.86% of the stock is currently owned by company insiders.

Watsco Stock Performance

Shares of WSO stock traded up $16.95 on Friday, hitting $508.47. The company's stock had a trading volume of 234,178 shares, compared to its average volume of 248,623. The stock's 50 day moving average is $489.58 and its 200-day moving average is $495.15. Watsco, Inc. has a fifty-two week low of $396.82 and a fifty-two week high of $571.42. The company has a market capitalization of $20.54 billion, a PE ratio of 38.38 and a beta of 0.92.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings data 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. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.67 billion. On average, research analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were given a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.12%. Watsco's dividend payout ratio is 81.51%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WSO shares. Raymond James started coverage on shares of Watsco in a report on Friday, January 17th. They issued a "market perform" rating on the stock. Robert W. Baird upped their price objective on shares of Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. 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 research note on Thursday, February 27th. Finally, Northcoast Research began coverage on shares of Watsco in a research note on Friday, November 22nd. They issued a "neutral" rating on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price 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.