Y Intercept Hong Kong Ltd Acquires Shares of 2,915 Watsco, Inc. (NYSE:WSO)

Y Intercept Hong Kong Ltd acquired a new stake in shares of Watsco, Inc. (NYSE:WSO) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 2,915 shares of the construction company’s stock, valued at approximately $1,381,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Forsta AP Fonden grew its holdings in shares of Watsco by 9.9% in the third quarter. Forsta AP Fonden now owns 7,800 shares of the construction company’s stock valued at $3,837,000 after purchasing an additional 700 shares in the last quarter. Arkadios Wealth Advisors lifted its position in shares of Watsco by 19.5% during the third quarter. Arkadios Wealth Advisors now owns 644 shares of the construction company’s stock worth $317,000 after purchasing an additional 105 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Watsco by 16.1% during the third quarter. State of Alaska Department of Revenue now owns 4,037 shares of the construction company’s stock valued at $1,985,000 after buying an additional 560 shares during the period. Autumn Glory Partners LLC increased its stake in shares of Watsco by 149.8% during the third quarter. Autumn Glory Partners LLC now owns 1,369 shares of the construction company’s stock valued at $679,000 after buying an additional 821 shares during the period. Finally, Hunter Associates Investment Management LLC increased its stake in shares of Watsco by 1.8% during the third quarter. Hunter Associates Investment Management LLC now owns 6,555 shares of the construction company’s stock valued at $3,223,000 after buying an additional 115 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 12.86% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Northcoast Research assumed coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Robert W. Baird boosted their price target on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, Raymond James began coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating for the company. Three 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 has a consensus rating of “Hold” and an average price target of $495.00.

Watsco Price Performance

Shares of NYSE:WSO opened at $497.27 on Wednesday. The business’s 50 day moving average price is $484.36 and its 200-day moving average price is $492.95. Watsco, Inc. has a 1 year low of $380.58 and a 1 year high of $571.41. The firm has a market capitalization of $20.08 billion, a price-to-earnings ratio of 37.53 and a beta of 0.95.

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

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio is currently 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.