IFM Investors Pty Ltd Makes New Investment in Watsco, Inc. (NYSE:WSO)

IFM Investors Pty Ltd acquired a new stake in shares of Watsco, Inc. (NYSE:WSO) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,233 shares of the construction company’s stock, valued at approximately $3,124,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. bought a new stake in Watsco during the 4th quarter valued at $25,000. First PREMIER Bank purchased a new position in Watsco during the 1st quarter worth $25,000. Contravisory Investment Management Inc. bought a new stake in shares of Watsco in the 4th quarter worth $26,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Watsco in the fourth quarter valued at about $28,000. Finally, Rise Advisors LLC bought a new position in shares of Watsco during the fourth quarter valued at about $30,000. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

Watsco stock traded down $0.79 during trading on Friday, hitting $443.21. The stock had a trading volume of 277,114 shares, compared to its average volume of 313,812. The stock’s 50 day moving average is $412.36 and its two-hundred day moving average is $399.76. Watsco, Inc. has a 1 year low of $315.17 and a 1 year high of $451.29. The stock has a market cap of $17.51 billion, a price-to-earnings ratio of 34.09 and a beta of 0.90. The company has a quick ratio of 1.47, a current ratio of 2.92 and a debt-to-equity ratio of 0.01.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.09). The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.59 billion. Watsco had a net margin of 7.03% and a return on equity of 19.26%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.83 earnings per share. As a group, analysts predict that Watsco, Inc. will post 14.19 EPS for the current year.

Watsco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.44%. This is a positive change from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date is Friday, April 12th. Watsco’s payout ratio is currently 83.08%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Stephens reaffirmed an “overweight” rating and issued a $500.00 price objective on shares of Watsco in a research report on Thursday. Robert W. Baird increased their price target on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Watsco currently has a consensus rating of “Hold” and a consensus price target of $404.25.

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.