Watsco, Inc. (NYSE:WSO) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 260,104 shares of the construction company's stock after buying an additional 3,196 shares during the period. Envestnet Asset Management Inc. owned about 0.64% of Watsco worth $123,261,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Watsco during the fourth quarter worth $118,312,000. Proficio Capital Partners LLC purchased a new stake in Watsco during the 4th quarter worth about $63,603,000. Charles Schwab Investment Management Inc. increased its holdings in Watsco by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company's stock worth $649,957,000 after purchasing an additional 118,713 shares during the period. State Street Corp boosted its stake in shares of Watsco by 5.9% in the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company's stock valued at $577,350,000 after buying an additional 65,846 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Watsco by 9.9% in the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company's stock valued at $345,783,000 after buying an additional 63,254 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Watsco Stock Performance

NYSE WSO traded up $10.63 during trading on Friday, reaching $509.76. The company's stock had a trading volume of 214,485 shares, compared to its average volume of 254,205. Watsco, Inc. has a twelve month low of $396.82 and a twelve month high of $571.42. The firm has a market cap of $20.60 billion, a price-to-earnings ratio of 38.47 and a beta of 1.00. The business's fifty day moving average price is $496.96 and its 200-day moving average price is $498.91.

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, beating analysts' consensus estimates of $2.13 by $0.24. The firm 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, sell-side analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Tuesday, April 15th. This is a positive change from Watsco's previous quarterly dividend of $2.70. Watsco's payout ratio 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.