TD Asset Management Inc Has $2.73 Million Position in Watsco, Inc. (NYSE:WSO)

TD Asset Management Inc lifted its holdings in Watsco, Inc. (NYSE:WSOFree Report) by 157.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,374 shares of the construction company’s stock after buying an additional 3,898 shares during the period. TD Asset Management Inc’s holdings in Watsco were worth $2,731,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Franklin Resources Inc. grew its stake in Watsco by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 44,737 shares of the construction company’s stock valued at $19,168,000 after acquiring an additional 1,650 shares in the last quarter. Sapient Capital LLC purchased a new position in Watsco during the fourth quarter valued at approximately $751,000. Benchmark Financial Wealth Advisors LLC acquired a new position in Watsco in the 4th quarter valued at approximately $536,000. Louisiana State Employees Retirement System purchased a new position in shares of Watsco during the 4th quarter valued at $4,070,000. Finally, Great Valley Advisor Group Inc. increased its stake in shares of Watsco by 145.6% in the fourth quarter. Great Valley Advisor Group Inc. now owns 2,982 shares of the construction company’s stock worth $1,278,000 after acquiring an additional 1,768 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

WSO has been the subject of a number of research reports. Stephens reissued an “overweight” rating and set a $500.00 price objective on shares of Watsco in a research report on Thursday, April 25th. Robert W. Baird increased their price objective on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $404.25.

Read Our Latest Analysis on WSO

Insider Activity

In related news, Director John Alexander Macdonald sold 5,334 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total transaction of $2,487,830.94. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Watsco news, EVP Barry S. Logan sold 774 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $473.85, for a total value of $366,759.90. Following the completion of the transaction, the executive vice president now owns 1,770 shares of the company’s stock, valued at approximately $838,714.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Alexander Macdonald sold 5,334 shares of Watsco stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $466.41, for a total value of $2,487,830.94. The disclosure for this sale can be found here. 12.86% of the stock is owned by company insiders.

Watsco Price Performance

NYSE WSO opened at $462.81 on Friday. The company has a market cap of $18.65 billion, a P/E ratio of 35.60 and a beta of 0.88. Watsco, Inc. has a 1 year low of $337.58 and a 1 year high of $491.90. The company has a current ratio of 2.92, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $452.13 and a 200 day simple moving average of $420.54.

Watsco (NYSE:WSOGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.09). The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.59 billion. Watsco had a net margin of 7.03% and a return on equity of 19.26%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.83 earnings per share. On average, sell-side analysts predict that Watsco, Inc. will post 14.26 EPS for the current year.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were issued a dividend of $2.70 per share. The ex-dividend date of this dividend was Friday, April 12th. This is a positive change from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.33%. Watsco’s payout ratio is 83.08%.

Watsco Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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