Y Intercept Hong Kong Ltd Takes $1.38 Million Position in Watsco, Inc. (NYSE:WSO)

Y Intercept Hong Kong Ltd bought a new position in shares of Watsco, Inc. (NYSE:WSO) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,915 shares of the construction company’s stock, valued at approximately $1,381,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its position in Watsco by 10.6% during the third quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after buying an additional 346,470 shares during the period. Benjamin Edwards Inc. increased its position in Watsco by 2,128.1% during the third quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock worth $52,880,000 after buying an additional 102,640 shares during the period. State Street Corp increased its position in Watsco by 5.9% during the third quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock worth $577,350,000 after buying an additional 65,846 shares during the period. Geode Capital Management LLC increased its position in Watsco by 9.9% during the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock worth $345,783,000 after buying an additional 63,254 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Watsco by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock worth $616,357,000 after buying an additional 62,041 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Trading Down 0.8 %

NYSE:WSO opened at $497.27 on Wednesday. The firm has a market cap of $20.08 billion, a P/E ratio of 37.53 and a beta of 0.95. The stock’s 50 day simple moving average is $484.36 and its 200-day simple moving average is $492.95. Watsco, Inc. has a 12-month low of $380.58 and a 12-month high of $571.41.

Watsco (NYSE:WSO) last released its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. Research analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.17%. Watsco’s dividend payout ratio (DPR) is presently 81.51%.

Insider Activity at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 12.86% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on WSO shares. Robert W. Baird lifted their price target on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Raymond James began coverage on Watsco in a research report on Friday, January 17th. They set a “market perform” rating on the stock. Finally, Northcoast Research began coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $495.00.

Watsco Company 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.