Korea Investment CORP Purchases 14,377 Shares of Watsco, Inc. (NYSE:WSO)

Korea Investment CORP raised its position in Watsco, Inc. (NYSE:WSO) by 198.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,611 shares of the construction company’s stock after acquiring an additional 14,377 shares during the quarter. Korea Investment CORP owned approximately 0.05% of Watsco worth $10,241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. My Legacy Advisors LLC lifted its stake in shares of Watsco by 3.2% in the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock worth $329,000 after purchasing an additional 21 shares during the period. Avidian Wealth Enterprises LLC raised its position in Watsco by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock worth $567,000 after acquiring an additional 21 shares during the period. Centennial Wealth Advisory LLC raised its position in Watsco by 3.0% in the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock worth $358,000 after acquiring an additional 22 shares during the period. M&T Bank Corp grew its position in shares of Watsco by 1.4% during the 4th quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock valued at $799,000 after acquiring an additional 23 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Watsco by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company’s stock worth $3,645,000 after buying an additional 23 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Performance

WSO opened at $500.42 on Monday. The stock has a market capitalization of $20.22 billion, a price-to-earnings ratio of 37.77 and a beta of 0.92. Watsco, Inc. has a fifty-two week low of $396.82 and a fifty-two week high of $571.42. The company has a fifty day moving average of $496.12 and a 200 day moving average of $498.74.

Watsco (NYSE:WSO) last issued its 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. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. On average, equities research analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.16%. Watsco’s payout ratio is currently 81.51%.

Analyst Upgrades and Downgrades

WSO has been the subject of a number of recent analyst reports. Robert W. Baird upped their price target 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. Loop Capital upped their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a report on Thursday, February 27th. Finally, Raymond James began coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Watsco presently has a consensus rating of “Hold” and a consensus target price of $486.25.

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.