Meiji Yasuda Asset Management Co Ltd. Boosts Position in Watsco, Inc. (NYSE:WSO)

Meiji Yasuda Asset Management Co Ltd. grew its holdings in Watsco, Inc. (NYSE:WSO) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,949 shares of the construction company’s stock after acquiring an additional 23 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Watsco were worth $924,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WSO. Rialto Wealth Management LLC purchased a new stake in Watsco in the fourth quarter valued at $31,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Watsco in the fourth quarter worth about $36,000. Quarry LP boosted its stake in shares of Watsco by 57.9% in the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after buying an additional 33 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Watsco during the third quarter worth about $48,000. Finally, Atala Financial Inc purchased a new position in Watsco during the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analyst Ratings Changes

WSO has been the topic of several recent research reports. Raymond James began coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” rating on the stock. Robert W. Baird raised their price target on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Loop Capital lifted their price objective on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $486.25.

Watsco Price Performance

Shares of WSO stock opened at $513.40 on Thursday. The stock has a 50 day simple moving average of $495.56 and a 200-day simple moving average of $497.75. Watsco, Inc. has a 1-year low of $396.82 and a 1-year high of $571.42. The company has a market cap of $20.74 billion, a price-to-earnings ratio of 38.75 and a beta of 0.92.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. Analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.10%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is 81.51%.

Watsco 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.