Watsco, Inc. (NYSE:WSO) Shares Acquired by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lifted its position in Watsco, Inc. (NYSE:WSO) by 14.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 125,788 shares of the construction company’s stock after purchasing an additional 15,955 shares during the quarter. TimesSquare Capital Management LLC owned about 0.32% of Watsco worth $53,896,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. purchased a new stake in shares of Watsco in the 4th quarter valued at approximately $25,000. Contravisory Investment Management Inc. acquired a new position in Watsco during the fourth quarter worth $26,000. Cullen Frost Bankers Inc. purchased a new position in shares of Watsco during the fourth quarter worth $28,000. Rise Advisors LLC acquired a new stake in shares of Watsco in the fourth quarter valued at $30,000. Finally, BKM Wealth Management LLC acquired a new position in Watsco during the 4th quarter worth about $32,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Watsco Stock Up 0.7 %

Watsco stock traded up $3.37 during trading on Thursday, reaching $472.06. The stock had a trading volume of 169,520 shares, compared to its average volume of 343,105. The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 52-week low of $315.17 and a 52-week high of $480.18. The stock has a market cap of $18.64 billion, a PE ratio of 36.06 and a beta of 0.86. The business has a 50 day moving average price of $424.38 and a 200 day moving average price of $404.36.

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

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were issued a $2.70 dividend. This is an increase from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Friday, April 12th. Watsco’s payout ratio is presently 83.08%.

Watsco Profile

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.