Natixis Advisors L.P. boosted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 0.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,612 shares of the construction company’s stock after purchasing an additional 592 shares during the period. Natixis Advisors L.P. owned about 0.24% of Watsco worth $24,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently modified their holdings of WSO. IFP Advisors Inc lifted its position in shares of Watsco by 91.4% during the 4th quarter. IFP Advisors Inc now owns 178 shares of the construction company’s stock valued at $40,000 after buying an additional 85 shares in the last quarter. Ropes Wealth Advisors LLC raised its holdings in shares of Watsco by 58.7% during the 4th quarter. Ropes Wealth Advisors LLC now owns 200 shares of the construction company’s stock worth $45,000 after acquiring an additional 74 shares during the period. Graves Light Private Wealth Management Inc. acquired a new stake in Watsco during the fourth quarter worth about $46,000. JJJ Advisors Inc. raised its stake in Watsco by 213.4% during the fourth quarter. JJJ Advisors Inc. now owns 210 shares of the construction company’s stock worth $48,000 after purchasing an additional 143 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in Watsco by 64.3% in the 1st quarter. Meeder Asset Management Inc. now owns 258 shares of the construction company’s stock valued at $67,000 after purchasing an additional 101 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.
Shares of Watsco stock opened at $297.91 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 1.22. The stock has a market capitalization of $11.50 billion, a price-to-earnings ratio of 48.84 and a beta of 0.79. The business has a 50-day moving average of $282.17 and a 200 day moving average of $248.48. Watsco, Inc. has a 12 month low of $154.66 and a 12 month high of $307.81.
The business also recently declared a quarterly dividend, which was paid on Friday, April 30th. Shareholders of record on Thursday, April 15th were issued a dividend of $1.95 per share. This is an increase from Watsco’s previous quarterly dividend of $1.78. The ex-dividend date was Wednesday, April 14th. This represents a $7.80 annualized dividend and a yield of 2.62%. Watsco’s dividend payout ratio is 120.00%.
In other news, EVP Barry S. Logan sold 5,500 shares of Watsco stock in a transaction dated Wednesday, April 28th. The stock was sold at an average price of $294.14, for a total value of $1,617,770.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.61% of the stock is owned by company insiders.
WSO has been the topic of several analyst reports. William Blair reaffirmed an “outperform” rating on shares of Watsco in a research report on Wednesday, January 20th. JPMorgan Chase & Co. raised Watsco from an “underweight” rating to a “neutral” rating and upped their price target for the company from $185.00 to $218.00 in a research note on Monday, March 1st. Finally, Morgan Stanley raised their price objective on Watsco from $244.00 to $266.00 and gave the stock an “equal weight” rating in a research report on Monday, April 26th. Six equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Watsco currently has a consensus rating of “Hold” and an average target price of $248.50.
Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners, including gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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