American International Group Inc. Grows Position in Watsco (WSO)

American International Group Inc. lifted its stake in Watsco (NYSE:WSO) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 64,051 shares of the construction company’s stock after buying an additional 837 shares during the period. American International Group Inc. owned about 0.17% of Watsco worth $11,591,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WSO. Bank of Montreal Can lifted its stake in shares of Watsco by 132.1% in the fourth quarter. Bank of Montreal Can now owns 6,194 shares of the construction company’s stock valued at $1,053,000 after buying an additional 3,525 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Watsco by 9.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 210,733 shares of the construction company’s stock valued at $35,834,000 after buying an additional 18,001 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Watsco in the fourth quarter valued at about $374,000. SG Americas Securities LLC lifted its stake in shares of Watsco by 715.6% in the fourth quarter. SG Americas Securities LLC now owns 10,962 shares of the construction company’s stock valued at $1,864,000 after buying an additional 9,618 shares during the period. Finally, APG Asset Management N.V. bought a new stake in shares of Watsco in the fourth quarter valued at about $7,802,000. Institutional investors and hedge funds own 81.32% of the company’s stock.

Several equities research analysts recently weighed in on WSO shares. Zacks Investment Research upgraded shares of Watsco from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research note on Monday, April 16th. JPMorgan Chase reduced their target price on shares of Watsco from $180.00 to $169.00 and set a “neutral” rating for the company in a research note on Monday, February 12th. ValuEngine upgraded shares of Watsco from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Susquehanna Bancshares set a $195.00 target price on shares of Watsco and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Stephens set a $169.00 price target on shares of Watsco and gave the stock a “hold” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $184.14.

Shares of Watsco opened at $181.91 on Friday, according to Marketbeat. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 33.20 and a beta of 0.84. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.63 and a quick ratio of 1.49. Watsco has a 12 month low of $178.80 and a 12 month high of $180.00.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, April 24th. The construction company reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates of $0.89. The firm had revenue of $926.58 million during the quarter, compared to analysts’ expectations of $911.45 million. Watsco had a net margin of 4.92% and a return on equity of 14.44%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 earnings per share. sell-side analysts anticipate that Watsco will post 6.77 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 30th. Shareholders of record on Monday, April 16th were paid a dividend of $1.45 per share. This is a boost from Watsco’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Friday, April 13th. This represents a $5.80 dividend on an annualized basis and a yield of 3.19%. Watsco’s dividend payout ratio (DPR) is currently 105.84%.

About Watsco

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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