Advisors Asset Management Inc. Has $4.89 Million Holdings in Watsco, Inc. (NYSE:WSO)

Advisors Asset Management Inc. lessened its position in shares of Watsco, Inc. (NYSE:WSO) by 14.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,316 shares of the construction company’s stock after selling 1,768 shares during the period. Advisors Asset Management Inc.’s holdings in Watsco were worth $4,889,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its stake in shares of Watsco by 10.6% in the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock valued at $1,782,651,000 after purchasing an additional 346,470 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Watsco by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company’s stock worth $649,957,000 after purchasing an additional 118,713 shares in the last quarter. State Street Corp lifted its stake in Watsco by 5.9% in the third quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock valued at $577,350,000 after buying an additional 65,846 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Watsco by 9.9% during the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock worth $345,783,000 after buying an additional 63,254 shares in the last quarter. Finally, Markel Group Inc. grew its position in shares of Watsco by 1.4% during the 4th quarter. Markel Group Inc. now owns 590,500 shares of the construction company’s stock worth $279,832,000 after buying an additional 8,000 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

WSO stock opened at $507.41 on Thursday. The company has a market capitalization of $20.50 billion, a P/E ratio of 38.30 and a beta of 0.92. Watsco, Inc. has a 52-week low of $396.82 and a 52-week high of $571.42. The business has a 50-day simple moving average of $492.08 and a two-hundred day simple moving average of $495.94.

Watsco (NYSE:WSO) last announced its quarterly 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 business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. As a group, sell-side analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is presently 81.51%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on WSO shares. 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 note on Wednesday, February 19th. Loop Capital increased their price objective 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. Northcoast Research started coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Raymond James initiated coverage on Watsco in a research note 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.