Geneva Capital Management LLC Grows Holdings in Watsco, Inc. (NYSE:WSO)

Geneva Capital Management LLC lifted its holdings in Watsco, Inc. (NYSE:WSO) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,051 shares of the construction company’s stock after buying an additional 339 shares during the quarter. Geneva Capital Management LLC owned approximately 0.16% of Watsco worth $26,587,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sapient Capital LLC purchased a new stake in shares of Watsco in the 4th quarter worth about $751,000. Benchmark Financial Wealth Advisors LLC bought a new position in Watsco in the 4th quarter worth about $536,000. Louisiana State Employees Retirement System bought a new position in Watsco in the 4th quarter worth about $4,070,000. Mackenzie Financial Corp bought a new position in Watsco in the 4th quarter worth about $2,516,000. Finally, Great Valley Advisor Group Inc. lifted its stake in Watsco by 145.6% during the 4th quarter. Great Valley Advisor Group Inc. now owns 2,982 shares of the construction company’s stock valued at $1,278,000 after acquiring an additional 1,768 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Performance

Shares of NYSE:WSO traded up $3.37 during trading on Thursday, reaching $472.06. The company had a trading volume of 169,520 shares, compared to its average volume of 343,105. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.31. Watsco, Inc. has a fifty-two week low of $315.17 and a fifty-two week high of $480.18. The firm has a market capitalization of $18.64 billion, a price-to-earnings ratio of 36.06 and a beta of 0.86. The stock’s fifty day moving average price is $424.38 and its 200 day moving average price is $404.36.

Watsco (NYSE:WSO) last announced 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 firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the company earned $2.83 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. As a group, equities research analysts predict that Watsco, Inc. will post 14.26 EPS for the current year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were paid a dividend of $2.70 per share. The ex-dividend date was Friday, April 12th. This is a positive change from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a dividend yield of 2.29%. Watsco’s dividend payout ratio (DPR) is currently 83.08%.

Wall Street Analysts Forecast Growth

WSO has been the topic of several research analyst reports. Stephens restated an “overweight” rating and set a $500.00 target price on shares of Watsco in a research note on Thursday, April 25th. Robert W. Baird increased their price objective on shares of Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Watsco has an average rating of “Hold” and an average price target of $404.25.

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.