Geode Capital Management LLC Boosts Stake in Watsco, Inc. (NYSE:WSO)

Geode Capital Management LLC increased its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 725,186 shares of the construction company's stock after purchasing an additional 20,856 shares during the quarter. Geode Capital Management LLC owned approximately 1.80% of Watsco worth $343,168,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. National Bank of Canada FI increased its stake in shares of Watsco by 15.9% in the fourth quarter. National Bank of Canada FI now owns 5,499 shares of the construction company's stock valued at $2,606,000 after buying an additional 754 shares during the period. HighPoint Advisor Group LLC acquired a new stake in Watsco during the 4th quarter valued at approximately $264,000. Summit Financial LLC raised its holdings in Watsco by 42.3% during the 4th quarter. Summit Financial LLC now owns 710 shares of the construction company's stock worth $336,000 after purchasing an additional 211 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Watsco by 20.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,801 shares of the construction company's stock worth $1,801,000 after purchasing an additional 645 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Watsco by 2.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 11,201 shares of the construction company's stock valued at $5,226,000 after purchasing an additional 238 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Trading Down 2.1 %

Shares of WSO traded down $10.32 during trading hours on Thursday, reaching $488.86. The stock had a trading volume of 78,057 shares, compared to its average volume of 271,002. The firm has a 50-day simple moving average of $495.83 and a 200 day simple moving average of $498.81. Watsco, Inc. has a 12 month low of $396.82 and a 12 month high of $571.41. The company has a market capitalization of $19.75 billion, a price-to-earnings ratio of 36.87 and a beta of 1.00.

Watsco (NYSE:WSO - Get Free Report) last posted its earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS 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 company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. On average, equities analysts forecast that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be given a dividend of $3.00 per share. This is a boost from Watsco's previous quarterly dividend of $2.70. The ex-dividend date is Tuesday, April 15th. This represents a $12.00 annualized dividend and a dividend yield of 2.45%. Watsco's payout ratio is presently 90.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Loop Capital lifted their price objective on Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research report on Thursday, February 27th. Finally, Raymond James assumed coverage on Watsco in a research note on Friday, January 17th. They set a "market perform" rating for the company. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $486.25.

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.