Watsco, Inc. (NYSE:WSO) Shares Purchased by 2Xideas AG

2Xideas AG increased its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 53.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,531 shares of the construction company's stock after purchasing an additional 8,901 shares during the period. Watsco makes up 1.6% of 2Xideas AG's holdings, making the stock its 25th biggest position. 2Xideas AG owned approximately 0.06% of Watsco worth $12,099,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Rialto Wealth Management LLC purchased a new position in shares of Watsco during the 4th quarter valued at about $31,000. Wingate Wealth Advisors Inc. acquired a new stake in Watsco during the fourth quarter worth about $36,000. Quarry LP grew its holdings in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company's stock worth $44,000 after acquiring an additional 33 shares during the period. Atala Financial Inc purchased a new position in Watsco during the fourth quarter valued at approximately $49,000. Finally, Golden State Wealth Management LLC acquired a new position in Watsco in the fourth quarter valued at approximately $50,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on WSO shares. Raymond James assumed coverage on shares of Watsco in a research note on Friday, January 17th. They set a "market perform" rating on the stock. Loop Capital raised their price target on shares of Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research report on Thursday, February 27th. Finally, Robert W. Baird lifted 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. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $486.25.

Watsco Stock Performance

Shares of WSO stock traded up $7.04 on Friday, reaching $506.17. 81,475 shares of the company were exchanged, compared to its average volume of 254,544. Watsco, Inc. has a 1 year low of $396.82 and a 1 year high of $571.42. The business has a 50-day moving average price of $496.26 and a 200 day moving average price of $498.84. The company has a market cap of $20.45 billion, a price-to-earnings ratio of 37.77 and a beta of 1.00.

Watsco (NYSE:WSO - Get Free Report) last released its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.13 by $0.24. The business 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%. As a group, equities analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Tuesday, April 15th. This is a boost from Watsco's previous quarterly dividend of $2.70. Watsco's dividend payout ratio (DPR) is currently 90.57%.

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.