Prospect Capital Advisors LLC reduced its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 17.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,635 shares of the construction company's stock after selling 2,055 shares during the quarter. Watsco makes up approximately 2.7% of Prospect Capital Advisors LLC's investment portfolio, making the stock its 18th biggest position. Prospect Capital Advisors LLC's holdings in Watsco were worth $4,566,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Watsco by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 3,618,109 shares of the construction company's stock valued at $1,714,586,000 after purchasing an additional 52,127 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Watsco by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company's stock valued at $649,957,000 after acquiring an additional 118,713 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Watsco by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 725,186 shares of the construction company's stock valued at $343,168,000 after purchasing an additional 20,856 shares during the period. Markel Group Inc. lifted its stake in Watsco by 1.4% during the 4th quarter. Markel Group Inc. now owns 590,500 shares of the construction company's stock valued at $279,832,000 after acquiring an additional 8,000 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Watsco by 2.9% during the 4th quarter. JPMorgan Chase & Co. now owns 477,470 shares of the construction company's stock worth $226,268,000 after purchasing an additional 13,409 shares during the period. Hedge funds and other institutional investors own 89.71% of the company's stock.
Watsco Trading Down 1.6%
Shares of NYSE:WSO traded down $7.99 on Tuesday, hitting $480.20. The company had a trading volume of 70,553 shares, compared to its average volume of 282,706. The company has a market cap of $19.40 billion, a PE ratio of 36.24 and a beta of 1.11. The business has a 50 day moving average of $489.46 and a 200 day moving average of $497.58. Watsco, Inc. has a 52-week low of $439.08 and a 52-week high of $571.41.
Watsco (NYSE:WSO - Get Free Report) last released its earnings results on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.36). Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the company posted $2.17 earnings per share. The business's revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, equities analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.
Watsco Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.50%. This is an increase from Watsco's previous quarterly dividend of $2.70. The ex-dividend date was Tuesday, April 15th. Watsco's dividend payout ratio is 92.24%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on WSO shares. Mizuho set a $490.00 price target on Watsco in a research report on Thursday, April 24th. UBS Group decreased their price target on Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. StockNews.com upgraded shares of Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Robert W. Baird lowered their target price on Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Morgan Stanley started coverage on shares of Watsco in a research report on Monday, April 14th. They set an "equal weight" rating and a $515.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Watsco presently has a consensus rating of "Hold" and an average target price of $480.83.
Read Our Latest Report on WSO
About Watsco
(
Free Report)
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.
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