2Xideas AG Has $12.10 Million Holdings in Watsco, Inc. (NYSE:WSO)

by · The Cerbat Gem

2Xideas AG raised its position in shares of Watsco, Inc. (NYSE:WSO – Free Report) by 53.5% in the fourth quarter, Holdings Channel reports. The firm owned 25,531 shares of the construction company’s stock after buying an additional 8,901 shares during the period. Watsco accounts for 1.6% of 2Xideas AG’s investment portfolio, making the stock its 25th largest holding. 2Xideas AG’s holdings in Watsco were worth $12,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in WSO. Rialto Wealth Management LLC acquired a new position in Watsco during the fourth quarter worth $31,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Watsco during the 4th quarter worth about $36,000. Quarry LP increased its holdings in shares of Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after acquiring an additional 33 shares during the last quarter. Atala Financial Inc acquired a new stake in Watsco in the 4th quarter worth approximately $49,000. Finally, Golden State Wealth Management LLC bought a new stake in Watsco during the fourth quarter worth approximately $50,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Trading Down 3.0 %

Shares of Watsco stock opened at $477.78 on Friday. Watsco, Inc. has a 1 year low of $396.82 and a 1 year high of $571.42. The company’s fifty day simple moving average is $496.34 and its 200-day simple moving average is $499.34. The company has a market cap of $19.30 billion, a price-to-earnings ratio of 36.06 and a beta of 1.00.

Watsco (NYSE:WSO – Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.24. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. As a group, research analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a $3.00 dividend. This is a boost from Watsco’s previous quarterly dividend of $2.70. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $12.00 annualized dividend and a yield of 2.51%. Watsco’s dividend payout ratio is 81.51%.

Analyst Ratings Changes

A number of equities analysts have recently commented on WSO shares. Raymond James assumed coverage on shares of Watsco in a research report on Friday, January 17th. They issued a “market perform” rating on the stock. Loop Capital boosted their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Finally, Robert W. Baird raised their price target on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Watsco presently has a consensus rating of “Hold” and a consensus target price of $486.25.

View Our Latest Research Report on WSO

About Watsco

(Free Report)

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.

See Also

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