Fenimore Asset Management Inc Purchases 225 Shares of Watsco, Inc. (NYSE:WSO)

Fenimore Asset Management Inc increased its position in shares of Watsco, Inc. (NYSE:WSO) by 0.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,405 shares of the construction company’s stock after buying an additional 225 shares during the quarter. Fenimore Asset Management Inc’s holdings in Watsco were worth $29,687,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Avidian Wealth Enterprises LLC grew its holdings in shares of Watsco by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock worth $567,000 after buying an additional 21 shares in the last quarter. M&T Bank Corp grew its holdings in shares of Watsco by 1.4% during the fourth quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock worth $799,000 after buying an additional 23 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Watsco by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company’s stock valued at $3,645,000 after purchasing an additional 23 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in Watsco by 1.2% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,949 shares of the construction company’s stock valued at $924,000 after purchasing an additional 23 shares in the last quarter. Finally, Principal Securities Inc. grew its stake in Watsco by 6.9% in the fourth quarter. Principal Securities Inc. now owns 373 shares of the construction company’s stock valued at $177,000 after purchasing an additional 24 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Price Performance

WSO opened at $445.13 on Monday. The business has a fifty day simple moving average of $473.33 and a 200 day simple moving average of $490.32. The company has a market capitalization of $18.03 billion, a PE ratio of 33.59 and a beta of 1.06. Watsco, Inc. has a 1 year low of $430.20 and a 1 year high of $571.42.

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

Watsco Increases Dividend

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

Analyst Ratings Changes

WSO has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on Watsco in a research note on Monday, April 14th. They issued an “equal weight” rating and a $515.00 price target for the company. Mizuho set a $490.00 price target on Watsco in a research note on Thursday, April 24th. Robert W. Baird decreased their price target on Watsco from $560.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. UBS Group reduced their target price on Watsco from $475.00 to $455.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Finally, Loop Capital lifted their target price on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday, February 27th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Watsco currently has a consensus rating of “Hold” and an average target price of $486.67.

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.