Watsco, Inc. (NYSE:WSO) Shares Acquired by Kensington Investment Counsel LLC

Kensington Investment Counsel LLC grew its holdings in Watsco, Inc. (NYSE:WSO) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,452 shares of the construction company’s stock after acquiring an additional 696 shares during the quarter. Watsco accounts for approximately 3.6% of Kensington Investment Counsel LLC’s holdings, making the stock its 4th largest holding. Kensington Investment Counsel LLC’s holdings in Watsco were worth $8,744,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WSO. Rialto Wealth Management LLC purchased a new position in shares of Watsco in the fourth quarter worth about $31,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Watsco in the fourth quarter worth about $36,000. Quarry LP raised its stake in shares of Watsco by 57.9% in the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after purchasing an additional 33 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Watsco in the third quarter worth about $48,000. Finally, Atala Financial Inc purchased a new position in shares of Watsco in the fourth quarter worth about $49,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

WSO has been the subject of several research analyst reports. Robert W. Baird raised their price objective on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Loop Capital raised their price objective on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday, February 27th. Raymond James began coverage on Watsco in a research note on Friday, January 17th. They issued a “market perform” rating for the company. Finally, Northcoast Research began coverage on Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $486.25.

Insider Activity

In other news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.86% of the company’s stock.

Watsco Trading Up 0.5 %

Shares of WSO stock opened at $511.27 on Tuesday. The stock has a 50 day moving average of $490.37 and a 200 day moving average of $495.62. The stock has a market cap of $20.66 billion, a P/E ratio of 38.59 and a beta of 0.92. Watsco, Inc. has a twelve month low of $396.82 and a twelve month high of $571.42.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.24. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. On average, research analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is presently 81.51%.

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.