Motley Fool Asset Management LLC Buys 678 Shares of Watsco, Inc. (NYSE:WSO)

Motley Fool Asset Management LLC lifted its stake in shares of Watsco, Inc. (NYSE:WSO) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,206 shares of the construction company’s stock after acquiring an additional 678 shares during the quarter. Watsco makes up 1.3% of Motley Fool Asset Management LLC’s holdings, making the stock its 18th biggest holding. Motley Fool Asset Management LLC owned about 0.13% of Watsco worth $25,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. My Legacy Advisors LLC boosted its stake in shares of Watsco by 3.2% in the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock valued at $329,000 after purchasing an additional 21 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in Watsco by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock valued at $567,000 after buying an additional 21 shares during the period. Centennial Wealth Advisory LLC boosted its position in Watsco by 3.0% during the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock valued at $358,000 after acquiring an additional 22 shares during the last quarter. M&T Bank Corp grew its holdings in Watsco by 1.4% during the 4th quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock worth $799,000 after acquiring an additional 23 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Watsco by 0.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company’s stock worth $3,645,000 after acquiring an additional 23 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Performance

Shares of NYSE:WSO opened at $520.95 on Thursday. Watsco, Inc. has a 52-week low of $396.82 and a 52-week high of $571.42. The business’s 50 day simple moving average is $496.79 and its two-hundred day simple moving average is $499.41. The firm has a market cap of $21.05 billion, a P/E ratio of 39.32 and a beta of 1.00.

Watsco (NYSE:WSO) last issued 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 company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. On average, equities analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $3.00 per share. This is a boost from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Tuesday, April 15th. Watsco’s dividend payout ratio (DPR) is currently 81.51%.

Analyst Ratings Changes

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

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.