Daiwa Securities Group Inc. Raises Stock Holdings in Watsco, Inc. (NYSE:WSO)

Daiwa Securities Group Inc. lifted its holdings in Watsco, Inc. (NYSE:WSO) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,800 shares of the construction company’s stock after buying an additional 100 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Watsco were worth $1,327,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. FMR LLC raised its holdings in shares of Watsco by 10.6% in 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. Charles Schwab Investment Management Inc. raised its holdings in shares of Watsco by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company’s stock worth $649,957,000 after buying an additional 118,713 shares during the period. State Street Corp raised its holdings in shares of Watsco by 5.9% in 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 holdings in Watsco by 9.9% during the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock worth $345,783,000 after purchasing an additional 63,254 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Watsco by 9.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company’s stock worth $228,263,000 after purchasing an additional 41,845 shares during the period. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.86% of the company’s stock.

Watsco Trading Up 3.4 %

Shares of NYSE:WSO opened at $508.47 on Friday. The company has a market capitalization of $20.54 billion, a PE ratio of 38.38 and a beta of 0.92. Watsco, Inc. has a 12-month low of $396.82 and a 12-month high of $571.42. The business’s fifty day simple moving average is $489.58 and its 200-day simple moving average is $495.15.

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

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given 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 2.12%. Watsco’s payout ratio is 81.51%.

Analyst Ratings Changes

Several research firms have commented on WSO. Northcoast Research began coverage on Watsco in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Raymond James assumed coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating on the stock. Loop Capital lifted their price target on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. Finally, Robert W. Baird lifted their price target on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $486.25.

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.