Gotham Asset Management LLC Grows Stock Holdings in Watsco, Inc. (NYSE:WSO)

Gotham Asset Management LLC boosted its position in Watsco, Inc. (NYSE:WSO) by 37.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 27,076 shares of the construction company’s stock after acquiring an additional 7,448 shares during the period. Gotham Asset Management LLC’s holdings in Watsco were worth $12,831,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Watsco in the 4th quarter valued at $118,312,000. Lord Abbett & CO. LLC acquired a new position in shares of Watsco in the 4th quarter valued at $104,533,000. Proficio Capital Partners LLC acquired a new position in shares of Watsco in the 4th quarter valued at $63,603,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Watsco by 9.5% in the 4th 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 last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Watsco by 542.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 110,752 shares of the construction company’s stock valued at $52,484,000 after purchasing an additional 93,506 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Price Performance

Shares of WSO stock opened at $476.20 on Monday. Watsco, Inc. has a 12 month low of $439.08 and a 12 month high of $571.42. The firm has a market capitalization of $19.24 billion, a P/E ratio of 35.94 and a beta of 1.11. The company’s fifty day moving average price is $492.18 and its two-hundred day moving average price is $497.23.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.36). Watsco had a return on equity of 17.59% and a net margin of 7.04%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the firm earned $2.17 EPS. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a $3.00 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a yield of 2.52%. This is a positive change from Watsco’s previous quarterly dividend of $2.70. Watsco’s payout ratio is currently 92.24%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WSO shares. Morgan Stanley started coverage on shares of Watsco in a report on Monday, April 14th. They issued an “equal weight” rating and a $515.00 price target on the stock. Raymond James assumed coverage on shares of Watsco in a report on Friday, January 17th. They set a “market perform” rating on the stock. Loop Capital lifted 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. Mizuho set a $490.00 target price on shares of Watsco in a report on Thursday, April 24th. Finally, Robert W. Baird reduced their target price on shares of Watsco from $560.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Watsco has a consensus rating of “Hold” and an average 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.