Watsco, Inc. (NYSE:WSO) Shares Bought by Foster Dykema Cabot & Partners LLC

Foster Dykema Cabot & Partners LLC raised its position in Watsco, Inc. (NYSE:WSO - Free Report) by 785.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 885 shares of the construction company's stock after buying an additional 785 shares during the period. Foster Dykema Cabot & Partners LLC's holdings in Watsco were worth $419,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WSO. Vanguard Group Inc. increased its stake in shares of Watsco by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 3,618,109 shares of the construction company's stock valued at $1,714,586,000 after purchasing an additional 52,127 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 period. Geode Capital Management LLC increased its position in shares of Watsco by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 725,186 shares of the construction company's stock valued at $343,168,000 after buying an additional 20,856 shares in the last quarter. Markel Group Inc. lifted its position in shares of Watsco by 1.4% during the 4th quarter. Markel Group Inc. now owns 590,500 shares of the construction company's stock valued at $279,832,000 after buying an additional 8,000 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Watsco by 2.9% in the 4th quarter. JPMorgan Chase & Co. now owns 477,470 shares of the construction company's stock valued at $226,268,000 after acquiring an additional 13,409 shares during the period. Hedge funds and other institutional investors own 89.71% of the company's stock.

Analyst Upgrades and Downgrades

WSO has been the subject of a number of research analyst reports. Morgan Stanley began coverage on shares of Watsco in a research report on Monday, April 14th. They set an "equal weight" rating and a $515.00 price objective for the company. Raymond James began coverage on shares of Watsco in a research note on Friday, January 17th. They issued a "market perform" rating on the stock. Loop Capital lifted their price objective on Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a report on Thursday, February 27th. Finally, Robert W. Baird raised their target price on Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $492.00.

Watsco Price Performance

NYSE WSO traded up $9.94 during trading hours on Friday, hitting $507.62. 272,958 shares of the company's stock traded hands, compared to its average volume of 253,935. The firm's 50-day moving average is $500.71 and its 200-day moving average is $499.36. Watsco, Inc. has a 52-week low of $396.82 and a 52-week high of $571.42. The company has a market capitalization of $20.51 billion, a PE ratio of 38.31 and a beta of 1.00.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.24. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. Equities research analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This is an increase from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a yield of 2.36%. Watsco's payout ratio is 90.57%.

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.