Nomura Asset Management Co. Ltd. Acquires 3,720 Shares of Watsco, Inc. (NYSE:WSO)

Nomura Asset Management Co. Ltd. lifted its holdings in Watsco, Inc. (NYSE:WSO) by 37.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,662 shares of the construction company’s stock after purchasing an additional 3,720 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Watsco were worth $6,474,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rialto Wealth Management LLC purchased a new stake in Watsco during the fourth quarter worth $31,000. Wingate Wealth Advisors Inc. bought a new position in shares of Watsco in the 4th quarter worth $36,000. Quarry LP lifted its stake in shares of Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after purchasing an additional 33 shares during the last quarter. Atala Financial Inc bought a new stake in Watsco during the fourth quarter valued at about $49,000. Finally, Golden State Wealth Management LLC bought a new stake in Watsco during the fourth quarter valued at about $50,000. 89.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Watsco Stock Up 1.5 %

WSO stock opened at $509.53 on Tuesday. The stock has a market capitalization of $20.59 billion, a PE ratio of 38.45 and a beta of 0.92. Watsco, Inc. has a 52 week low of $396.82 and a 52 week high of $571.42. The firm has a 50 day moving average of $496.37 and a 200 day moving average of $499.01.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $1.67 billion. On average, equities research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is 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.