28,500 Shares in Watsco, Inc. (NYSE:WSO) Bought by BLI Banque de Luxembourg Investments

BLI Banque de Luxembourg Investments bought a new stake in Watsco, Inc. (NYSE:WSO) in the 4th quarter, Holdings Channel reports. The institutional investor bought 28,500 shares of the construction company’s stock, valued at approximately $13,538,000.

A number of other hedge funds have also recently made changes to their positions in WSO. Rialto Wealth Management LLC bought a new position in Watsco in the 4th quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. bought a new position in shares of Watsco during the fourth quarter valued at $36,000. Atala Financial Inc bought a new position in shares of Watsco during the fourth quarter valued at $49,000. Golden State Wealth Management LLC acquired a new position in shares of Watsco during the fourth quarter worth $50,000. Finally, Tortoise Investment Management LLC increased its holdings in Watsco by 76.2% in the fourth quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company’s stock valued at $70,000 after purchasing an additional 64 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Up 2.5 %

Shares of WSO stock opened at $472.80 on Friday. Watsco, Inc. has a 52 week low of $439.08 and a 52 week high of $571.42. The firm has a 50 day moving average of $494.54 and a 200-day moving average of $497.65. The company has a market cap of $19.10 billion, a price-to-earnings ratio of 35.68 and a beta of 1.11.

Watsco (NYSE:WSO) last posted its quarterly earnings results 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 company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the business posted $2.17 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. Analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.54%. This is a positive change from Watsco’s previous quarterly dividend of $2.70. The ex-dividend date was Tuesday, April 15th. Watsco’s dividend payout ratio is presently 92.24%.

Wall Street Analysts Forecast Growth

WSO has been the topic of several recent research reports. StockNews.com downgraded Watsco from a “hold” rating to a “sell” rating in a report on Friday, April 25th. Robert W. Baird reduced their target price on Watsco from $560.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Loop Capital increased their target price on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research report on Thursday, February 27th. Mizuho set a $490.00 price target on shares of Watsco in a research report on Thursday, April 24th. Finally, UBS Group reduced their price objective on shares of Watsco from $475.00 to $455.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.