249,661 Shares in Watsco, Inc. (NYSE:WSO) Purchased by Norges Bank

Norges Bank bought a new stake in Watsco, Inc. (NYSE:WSO) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 249,661 shares of the construction company’s stock, valued at approximately $118,312,000.

A number of other hedge funds also recently added to or reduced their stakes in WSO. Rialto Wealth Management LLC acquired a new stake in shares of Watsco in the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. purchased a new stake in Watsco during the fourth quarter worth $36,000. Quarry LP boosted its position in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after purchasing an additional 33 shares in the last quarter. Atala Financial Inc acquired a new stake in Watsco in the fourth quarter valued at $49,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Watsco in the fourth quarter valued at $50,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Watsco Price Performance

Shares of NYSE WSO opened at $509.53 on Tuesday. The company has a market cap of $20.59 billion, a PE ratio of 38.45 and a beta of 0.92. The company has a 50-day simple moving average of $496.37 and a 200-day simple moving average of $499.01. Watsco, Inc. has a 12 month low of $396.82 and a 12 month high of $571.42.

Watsco (NYSE:WSO) last issued its quarterly earnings results 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. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. On average, analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is 81.51%.

Watsco Company Profile

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.