Watsco, Inc. (NYSE:WSO) Position Raised by Tortoise Investment Management LLC

Tortoise Investment Management LLC increased its position in shares of Watsco, Inc. (NYSE:WSO) by 76.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148 shares of the construction company’s stock after purchasing an additional 64 shares during the period. Tortoise Investment Management LLC’s holdings in Watsco were worth $70,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its holdings in Watsco by 32.2% during the third quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock worth $2,094,000 after purchasing an additional 1,038 shares in the last quarter. Citizens Financial Group Inc. RI raised its holdings in Watsco by 40.6% during the third quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock worth $1,582,000 after purchasing an additional 929 shares in the last quarter. Larson Financial Group LLC raised its holdings in Watsco by 3,571.0% during the third quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock worth $560,000 after purchasing an additional 1,107 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Watsco by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock worth $31,853,000 after purchasing an additional 1,074 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Watsco by 5.6% during the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock worth $25,645,000 after purchasing an additional 2,738 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Up 1.5 %

Shares of NYSE:WSO opened at $520.60 on Tuesday. The company’s fifty day moving average is $487.22 and its two-hundred day moving average is $494.62. Watsco, Inc. has a 12-month low of $389.08 and a 12-month high of $571.41. The company has a market cap of $21.02 billion, a P/E ratio of 39.29 and a beta of 0.92.

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

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.07%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is currently 81.51%.

Insider Buying and Selling at Watsco

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

Wall Street Analyst Weigh In

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

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.