Mackenzie Financial Corp Makes New Investment in Watsco, Inc. (NYSE:WSO)

Mackenzie Financial Corp bought a new stake in Watsco, Inc. (NYSE:WSO) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,873 shares of the construction company’s stock, valued at approximately $2,516,000.

A number of other institutional investors and hedge funds have also made changes to their positions in WSO. Benchmark Financial Wealth Advisors LLC purchased a new stake in Watsco during the fourth quarter worth about $536,000. Louisiana State Employees Retirement System purchased a new position in Watsco in the 4th quarter valued at approximately $4,070,000. Wellington Management Group LLP increased its position in shares of Watsco by 2.6% in the third quarter. Wellington Management Group LLP now owns 648,662 shares of the construction company’s stock valued at $245,013,000 after buying an additional 16,589 shares in the last quarter. Hamlin Capital Management LLC boosted its position in shares of Watsco by 5.7% in the 4th quarter. Hamlin Capital Management LLC now owns 295,833 shares of the construction company’s stock worth $126,756,000 after buying an additional 16,006 shares in the last quarter. Finally, NewEdge Wealth LLC grew its stake in Watsco by 3.3% in the 4th quarter. NewEdge Wealth LLC now owns 9,700 shares of the construction company’s stock valued at $4,156,000 after acquiring an additional 313 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Trading Up 2.5 %

Shares of Watsco stock opened at $406.76 on Tuesday. Watsco, Inc. has a fifty-two week low of $315.17 and a fifty-two week high of $447.49. The business’s fifty day moving average is $408.54 and its two-hundred day moving average is $398.65. 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 market cap of $16.07 billion, a PE ratio of 29.78 and a beta of 0.89.

Watsco (NYSE:WSO) last released its earnings results on Tuesday, February 13th. The construction company reported $2.06 EPS 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 business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the company posted $2.35 earnings per share. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. Analysts anticipate that Watsco, Inc. will post 14.19 earnings per share for the current year.

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a $2.70 dividend. The ex-dividend date of this dividend is Friday, April 12th. This is a boost from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a dividend yield of 2.66%. Watsco’s dividend payout ratio (DPR) is currently 79.06%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird increased their target price on Watsco from $400.00 to $410.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $398.00.

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.