Tortoise Investment Management LLC Has $70,000 Stock Holdings in Watsco, Inc. (NYSE:WSO)

Tortoise Investment Management LLC lifted its stake in Watsco, Inc. (NYSE:WSO) by 76.2% during the fourth quarter, HoldingsChannel reports. The fund owned 148 shares of the construction company’s stock after purchasing an additional 64 shares during the quarter. Tortoise Investment Management LLC’s holdings in Watsco were worth $70,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of WSO. QRG Capital Management Inc. increased its stake in shares of Watsco by 12.5% in the third quarter. QRG Capital Management Inc. now owns 1,145 shares of the construction company’s stock worth $563,000 after acquiring an additional 127 shares during the last quarter. Equitable Trust Co. increased its stake in shares of Watsco by 2.2% in the third quarter. Equitable Trust Co. now owns 1,166 shares of the construction company’s stock worth $574,000 after acquiring an additional 25 shares during the last quarter. Assetmark Inc. increased its position in Watsco by 6.4% during the third quarter. Assetmark Inc. now owns 612 shares of the construction company’s stock worth $301,000 after buying an additional 37 shares during the last quarter. Baker Avenue Asset Management LP acquired a new position in Watsco during the third quarter worth $626,000. Finally, Crossmark Global Holdings Inc. increased its position in Watsco by 16.0% during the third quarter. Crossmark Global Holdings Inc. now owns 2,510 shares of the construction company’s stock worth $1,234,000 after buying an additional 347 shares during the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Price Performance

WSO stock opened at $520.60 on Tuesday. Watsco, Inc. has a 52-week low of $389.08 and a 52-week high of $571.41. The company has a 50-day moving average of $487.22 and a two-hundred day moving average of $494.62. The stock has a market capitalization of $21.02 billion, a price-to-earnings ratio of 39.29 and a beta of 0.92.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Equities analysts expect that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is 81.51%.

Insider Buying and Selling at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.86% of the company’s stock.

Wall Street Analyst Weigh In

WSO has been the topic of several analyst reports. Loop Capital increased 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. Raymond James initiated coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating on the stock. Robert W. Baird increased their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Northcoast Research initiated coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $486.25.

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.