Geneva Capital Management LLC Has $26.59 Million Stock Position in Watsco, Inc. (NYSE:WSO)

Geneva Capital Management LLC lifted its stake in Watsco, Inc. (NYSE:WSO) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 62,051 shares of the construction company’s stock after acquiring an additional 339 shares during the quarter. Geneva Capital Management LLC’s holdings in Watsco were worth $26,587,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wetzel Investment Advisors Inc. acquired a new position in Watsco during the fourth quarter worth approximately $25,000. Contravisory Investment Management Inc. bought a new position in shares of Watsco in the 4th quarter valued at $26,000. Cullen Frost Bankers Inc. bought a new position in Watsco during the 4th quarter worth $28,000. Rise Advisors LLC bought a new position in Watsco during the 4th quarter worth $30,000. Finally, BKM Wealth Management LLC acquired a new stake in Watsco during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

NYSE:WSO traded up $3.37 during midday trading on Thursday, hitting $472.06. 169,520 shares of the stock were exchanged, compared to its average volume of 343,105. The company has a market capitalization of $18.64 billion, a price-to-earnings ratio of 36.06 and a beta of 0.86. Watsco, Inc. has a one year low of $315.17 and a one year high of $480.18. The company has a current ratio of 2.92, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $424.38 and a two-hundred day moving average price of $404.36.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.09). The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.59 billion. Watsco had a net margin of 7.03% and a return on equity of 19.26%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the company posted $2.83 earnings per share. Sell-side analysts predict that Watsco, Inc. will post 14.26 EPS for the current year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were given a $2.70 dividend. The ex-dividend date was Friday, April 12th. This is a boost from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a dividend yield of 2.29%. Watsco’s payout ratio is 83.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Robert W. Baird lifted their price target on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Stephens reiterated an “overweight” rating and issued a $500.00 price objective on shares of Watsco in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $404.25.

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.