Wellington Management Group LLP Has $167.69 Million Stock Position in Watsco, Inc. (NYSE:WSO)

Wellington Management Group LLP reduced its position in shares of Watsco, Inc. (NYSE:WSO) by 21.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 353,849 shares of the construction company’s stock after selling 96,362 shares during the quarter. Wellington Management Group LLP owned about 0.88% of Watsco worth $167,686,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new position in Watsco in the fourth quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Watsco during the 4th quarter valued at $36,000. Quarry LP lifted its stake in shares of Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after purchasing an additional 33 shares during the period. Atala Financial Inc bought a new position in shares of Watsco in the 4th quarter worth $49,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Watsco during the fourth quarter worth $50,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Price Performance

NYSE:WSO opened at $520.95 on Thursday. The business’s 50-day simple moving average is $496.79 and its 200-day simple moving average is $499.41. Watsco, Inc. has a fifty-two week low of $396.82 and a fifty-two week high of $571.42. The stock has a market capitalization of $21.05 billion, a PE ratio of 39.32 and a beta of 1.00.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share 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 firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. On average, research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a $3.00 dividend. This is an increase from Watsco’s previous quarterly dividend of $2.70. The ex-dividend date is Tuesday, April 15th. This represents a $12.00 annualized dividend and a dividend yield of 2.30%. Watsco’s dividend payout ratio (DPR) is currently 81.51%.

Analysts Set New Price Targets

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

About Watsco

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.