Natixis Takes $125,000 Position in Watsco, Inc. (NYSE:WSO)

Natixis purchased a new stake in shares of Watsco, Inc. (NYSE:WSO) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 264 shares of the construction company’s stock, valued at approximately $125,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new stake in shares of Watsco in the 4th quarter worth about $31,000. Wingate Wealth Advisors Inc. purchased a new stake in Watsco in the fourth quarter worth about $36,000. Atala Financial Inc purchased a new stake in Watsco in the fourth quarter worth about $49,000. Golden State Wealth Management LLC purchased a new position in shares of Watsco during the fourth quarter valued at approximately $50,000. Finally, Tortoise Investment Management LLC boosted its position in shares of Watsco by 76.2% in the 4th quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company’s stock worth $70,000 after purchasing an additional 64 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Up 0.5 %

Shares of NYSE WSO opened at $455.46 on Friday. The firm’s 50-day moving average price is $498.87 and its 200-day moving average price is $498.73. Watsco, Inc. has a 52-week low of $439.08 and a 52-week high of $571.42. The company has a market cap of $18.40 billion, a PE ratio of 34.37 and a beta of 1.00.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.36). Watsco had a return on equity of 17.59% and a net margin of 7.04%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the business posted $2.17 EPS. As a group, equities research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $12.00 annualized dividend and a dividend yield of 2.63%. This is a positive change from Watsco’s previous quarterly dividend of $2.70. Watsco’s payout ratio is presently 90.57%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Morgan Stanley assumed coverage on Watsco in a research note on Monday, April 14th. They set an “equal weight” rating and a $515.00 price objective for the company. Raymond James assumed coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Robert W. Baird dropped their price target on shares of Watsco from $560.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday. StockNews.com lowered shares of Watsco from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Loop Capital upped their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $480.83.

Watsco Company 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.