Flputnam Investment Management Co. Buys Shares of 483 Watsco, Inc. (NYSE:WSO)

Flputnam Investment Management Co. purchased a new position in shares of Watsco, Inc. (NYSE:WSO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 483 shares of the construction company’s stock, valued at approximately $207,000.

Several other institutional investors also recently modified their holdings of WSO. Mackenzie Financial Corp bought a new stake in Watsco during the 4th quarter worth $2,516,000. Dakota Wealth Management boosted its stake in shares of Watsco by 43.8% during the fourth quarter. Dakota Wealth Management now owns 7,298 shares of the construction company’s stock valued at $3,127,000 after purchasing an additional 2,222 shares in the last quarter. Waldron Private Wealth LLC grew its holdings in shares of Watsco by 6.7% during the fourth quarter. Waldron Private Wealth LLC now owns 621 shares of the construction company’s stock worth $266,000 after purchasing an additional 39 shares during the last quarter. Carnegie Capital Asset Management LLC increased its stake in shares of Watsco by 0.5% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 28,712 shares of the construction company’s stock valued at $12,302,000 after buying an additional 145 shares during the period. Finally, Vontobel Holding Ltd. bought a new position in Watsco in the 4th quarter valued at approximately $434,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Stock Performance

NYSE:WSO opened at $401.84 on Friday. The company has a market capitalization of $15.87 billion, a PE ratio of 29.42 and a beta of 0.90. Watsco, Inc. has a fifty-two week low of $314.87 and a fifty-two week high of $447.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 3.36. The company has a 50 day simple moving average of $408.99 and a two-hundred day simple moving average of $398.05.

Watsco (NYSE:WSO) last posted 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). The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.65 billion. Watsco had a return on equity of 21.36% and a net margin of 7.36%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.35 earnings per share. Research analysts anticipate that Watsco, Inc. will post 14.19 earnings per share for the current year.

Watsco Increases Dividend

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 given a $2.70 dividend. The ex-dividend date of this dividend is Friday, April 12th. This is a positive change from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a dividend yield of 2.69%. Watsco’s dividend payout ratio (DPR) is 79.06%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird boosted 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 research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Watsco currently has an average rating of “Hold” and an average price target of $396.00.

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.