DekaBank Deutsche Girozentrale Raises Stake in Watsco, Inc. (NYSE:WSO)

DekaBank Deutsche Girozentrale boosted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 33.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,919 shares of the construction company’s stock after acquiring an additional 2,977 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Watsco were worth $5,093,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of WSO. American Century Companies Inc. lifted its position in Watsco by 13.2% during the 1st quarter. American Century Companies Inc. now owns 2,280 shares of the construction company’s stock valued at $695,000 after acquiring an additional 265 shares during the period. Cetera Advisor Networks LLC purchased a new position in Watsco during the 1st quarter valued at about $229,000. Bank of Montreal Can raised its holdings in Watsco by 2.8% in the first quarter. Bank of Montreal Can now owns 7,429 shares of the construction company’s stock worth $2,290,000 after buying an additional 201 shares during the last quarter. APG Asset Management N.V. purchased a new position in Watsco in the first quarter worth about $246,000. Finally, Great West Life Assurance Co. Can raised its holdings in Watsco by 9.1% in the first quarter. Great West Life Assurance Co. Can now owns 19,121 shares of the construction company’s stock worth $5,997,000 after buying an additional 1,596 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Down 2.0 %

WSO opened at $414.85 on Friday. The company has a quick ratio of 1.47, a current ratio of 3.36 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average price of $407.89 and a 200-day moving average price of $396.68. Watsco, Inc. has a twelve month low of $309.17 and a twelve month high of $447.49. The stock has a market capitalization of $16.39 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 3.30 and a beta of 0.90.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, February 13th. The construction company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.44). Watsco had a net margin of 7.36% and a return on equity of 21.36%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the firm earned $2.35 earnings per share. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities research analysts forecast that Watsco, Inc. will post 14.21 earnings per share for the current year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.60%. This is a boost from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date of this dividend is Friday, April 12th. Watsco’s payout ratio is presently 71.74%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lifted their target price on shares of Watsco from $400.00 to $410.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $396.00.

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.