1,753 Shares in Watsco, Inc. (NYSE:WSO) Purchased by Sapient Capital LLC

Sapient Capital LLC bought a new position in shares of Watsco, Inc. (NYSE:WSO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,753 shares of the construction company’s stock, valued at approximately $751,000.

Several other large investors have also recently added to or reduced their stakes in the business. Axxcess Wealth Management LLC lifted its position in Watsco by 82.8% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,424 shares of the construction company’s stock worth $610,000 after buying an additional 645 shares during the period. M&T Bank Corp raised its holdings in shares of Watsco by 26.6% in the 4th quarter. M&T Bank Corp now owns 2,519 shares of the construction company’s stock worth $1,079,000 after purchasing an additional 530 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Watsco by 1,005.1% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 103,143 shares of the construction company’s stock worth $44,194,000 after purchasing an additional 93,810 shares during the period. Running Oak Capital LLC raised its holdings in shares of Watsco by 14.2% in the 4th quarter. Running Oak Capital LLC now owns 23,178 shares of the construction company’s stock worth $9,931,000 after purchasing an additional 2,879 shares during the period. Finally, Amalgamated Bank raised its holdings in shares of Watsco by 0.3% in the 4th quarter. Amalgamated Bank now owns 23,626 shares of the construction company’s stock worth $10,123,000 after purchasing an additional 79 shares during the period. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WSO. Robert W. Baird increased their price target on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Stephens reiterated an “overweight” rating and issued a $500.00 price target on shares of Watsco in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $404.25.

Watsco Price Performance

Shares of WSO traded up $8.47 during midday trading on Friday, reaching $464.55. The stock had a trading volume of 288,780 shares, compared to its average volume of 328,611. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.31. The company has a market capitalization of $18.35 billion, a P/E ratio of 35.73 and a beta of 0.86. The firm’s 50 day moving average price is $419.56 and its 200-day moving average price is $401.98. Watsco, Inc. has a 52 week low of $315.17 and a 52 week high of $466.56.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.09). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the firm posted $2.83 earnings per share. Watsco’s revenue was up .9% compared to the same quarter last year. On average, analysts forecast that Watsco, Inc. will post 14.26 earnings per share for the current fiscal year.

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date was Friday, April 12th. Watsco’s payout ratio is presently 83.08%.

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.