Millennium Management LLC increased its position in shares of Watsco Inc (NYSE:WSO) by 39.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,099 shares of the construction company’s stock after acquiring an additional 42,701 shares during the quarter. Millennium Management LLC owned about 0.40% of Watsco worth $21,024,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Park National Corp OH increased its stake in Watsco by 7.1% during the 4th quarter. Park National Corp OH now owns 1,666 shares of the construction company’s stock valued at $232,000 after purchasing an additional 111 shares in the last quarter. First Hawaiian Bank increased its stake in Watsco by 16.8% during the 4th quarter. First Hawaiian Bank now owns 885 shares of the construction company’s stock valued at $123,000 after purchasing an additional 127 shares in the last quarter. Redmond Asset Management LLC increased its stake in Watsco by 1.1% during the 4th quarter. Redmond Asset Management LLC now owns 18,384 shares of the construction company’s stock valued at $2,558,000 after purchasing an additional 199 shares in the last quarter. Virginia Retirement Systems ET AL increased its stake in Watsco by 2.7% during the 4th quarter. Virginia Retirement Systems ET AL now owns 7,600 shares of the construction company’s stock valued at $1,057,000 after purchasing an additional 200 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Watsco by 13.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the construction company’s stock valued at $301,000 after purchasing an additional 252 shares in the last quarter. Institutional investors and hedge funds own 78.50% of the company’s stock.
A number of research analysts have issued reports on WSO shares. Zacks Investment Research lowered shares of Watsco from a “hold” rating to a “sell” rating in a research note on Friday, December 7th. Morgan Stanley started coverage on shares of Watsco in a research note on Tuesday, December 18th. They set an “equal weight” rating and a $144.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $176.00.
Watsco (NYSE:WSO) last released its quarterly earnings data on Thursday, February 14th. The construction company reported $1.02 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.04). The business had revenue of $991.32 million during the quarter, compared to analysts’ expectations of $1.01 billion. Watsco had a net margin of 5.04% and a return on equity of 14.29%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the company earned $1.19 earnings per share. On average, research analysts expect that Watsco Inc will post 6.72 EPS for the current fiscal year.
The firm 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 $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 4.41%. The ex-dividend date is Friday, April 12th. Watsco’s dividend payout ratio (DPR) is currently 98.61%.
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Watsco Company Profile
Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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