KLP Kapitalforvaltning AS Acquires New Shares in Watsco, Inc. (NYSE:WSO)

KLP Kapitalforvaltning AS acquired a new position in Watsco, Inc. (NYSE:WSO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,800 shares of the construction company’s stock, valued at approximately $5,592,000.

Other hedge funds have also recently bought and sold shares of the company. Rialto Wealth Management LLC bought a new stake in shares of Watsco during the 4th quarter worth about $31,000. Wingate Wealth Advisors Inc. acquired a new stake in Watsco in the 4th quarter worth approximately $36,000. Quarry LP boosted its position in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after purchasing an additional 33 shares during the period. Brooklyn Investment Group acquired a new position in Watsco during the third quarter valued at approximately $48,000. Finally, Atala Financial Inc bought a new position in shares of Watsco in the fourth quarter valued at approximately $49,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WSO has been the subject of several recent analyst reports. Loop Capital upped their price objective on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a report on Thursday, February 27th. Raymond James initiated coverage on shares of Watsco in a report on Friday, January 17th. They set a “market perform” rating for the company. Finally, Robert W. Baird lifted their price objective on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $486.25.

Watsco Price Performance

NYSE:WSO opened at $517.72 on Wednesday. Watsco, Inc. has a one year low of $396.82 and a one year high of $571.42. The company has a fifty day moving average price of $494.88 and a 200 day moving average price of $497.64. The stock has a market cap of $20.92 billion, a P/E ratio of 39.07 and a beta of 0.92.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. As a group, equities research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.09%. Watsco’s dividend payout ratio is currently 81.51%.

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.