Kensington Investment Counsel LLC Increases Stake in Watsco, Inc. (NYSE:WSO)

Kensington Investment Counsel LLC raised its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,452 shares of the construction company's stock after purchasing an additional 696 shares during the quarter. Watsco accounts for approximately 3.6% of Kensington Investment Counsel LLC's portfolio, making the stock its 4th largest position. Kensington Investment Counsel LLC's holdings in Watsco were worth $8,744,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Rialto Wealth Management LLC bought a new stake in shares of Watsco in the 4th quarter worth $31,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Watsco in the 4th quarter worth $36,000. Quarry LP grew its stake in shares of Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company's stock worth $44,000 after acquiring an additional 33 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Watsco in the 3rd quarter worth $48,000. Finally, Atala Financial Inc bought a new stake in shares of Watsco in the 4th quarter worth $49,000. Institutional investors own 89.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WSO. Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They issued a "neutral" rating on the stock. Loop Capital boosted their price target on shares of Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a report on Thursday, February 27th. Raymond James began 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 price target on shares of Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a report 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 company's stock. According to data from MarketBeat.com, Watsco presently has a consensus rating of "Hold" and an average target price of $486.25.

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Watsco Stock Performance

NYSE WSO traded down $6.44 during trading on Friday, hitting $495.89. 453,476 shares of the company's stock traded hands, compared to its average volume of 246,701. The stock has a market capitalization of $20.04 billion, a price-to-earnings ratio of 37.43 and a beta of 0.92. Watsco, Inc. has a 12-month low of $396.82 and a 12-month high of $571.42. The business has a 50 day moving average of $493.43 and a 200-day moving average of $496.13.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.13 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. On average, analysts expect that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.18%. 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.