Raiffeisen Bank International AG Acquires New Shares in Watsco, Inc. (NYSE:WSO)

Raiffeisen Bank International AG purchased a new position in shares of Watsco, Inc. (NYSE:WSO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 603 shares of the construction company’s stock, valued at approximately $286,000.

Several other hedge funds also recently bought and sold shares of WSO. Rialto Wealth Management LLC acquired a new stake in shares of Watsco during the fourth quarter worth $31,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Watsco during the fourth quarter worth about $36,000. Atala Financial Inc acquired a new position in shares of Watsco during the fourth quarter worth about $49,000. Golden State Wealth Management LLC purchased a new stake in shares of Watsco during the fourth quarter worth about $50,000. Finally, Tortoise Investment Management LLC increased its position in shares of Watsco by 76.2% during the fourth quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company’s stock worth $70,000 after acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Up 2.8%

WSO opened at $492.29 on Friday. The firm has a market cap of $19.89 billion, a PE ratio of 37.15 and a beta of 1.11. The business has a fifty day simple moving average of $489.80 and a 200-day simple moving average of $497.31. Watsco, Inc. has a fifty-two week low of $439.08 and a fifty-two week high of $571.42.

Watsco (NYSE:WSO) last released its earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.36). The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. Watsco’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.17 EPS. On average, equities research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.44%. This is a positive change from Watsco’s previous quarterly dividend of $2.70. The ex-dividend date of this dividend was Tuesday, April 15th. Watsco’s dividend payout ratio (DPR) is currently 92.24%.

Analyst Ratings Changes

A number of analysts have recently issued reports on WSO shares. Morgan Stanley assumed coverage on Watsco in a research report on Monday, April 14th. They set an “equal weight” rating and a $515.00 target price on the stock. UBS Group dropped their price target on Watsco from $475.00 to $455.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Loop Capital increased their price target on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. StockNews.com raised Watsco from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Finally, Robert W. Baird decreased their price target on Watsco from $560.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $480.83.

About Watsco

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.