Anchor Capital Advisors LLC Reduces Holdings in Watsco, Inc. (NYSE:WSO)

Anchor Capital Advisors LLC reduced its holdings in shares of Watsco, Inc. (NYSE:WSO) by 6.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 165,177 shares of the construction company’s stock after selling 10,579 shares during the quarter. Watsco makes up approximately 1.9% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 9th largest position. Anchor Capital Advisors LLC’s holdings in Watsco were worth $70,774,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC increased its position in Watsco by 0.5% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,655,946 shares of the construction company’s stock worth $625,484,000 after buying an additional 7,723 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Watsco by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,310,201 shares of the construction company’s stock worth $476,973,000 after buying an additional 9,201 shares during the last quarter. Blair William & Co. IL increased its position in Watsco by 0.7% in the third quarter. Blair William & Co. IL now owns 770,476 shares of the construction company’s stock worth $291,024,000 after buying an additional 4,997 shares during the last quarter. Wellington Management Group LLP increased its position in Watsco by 2.6% in the third quarter. Wellington Management Group LLP now owns 648,662 shares of the construction company’s stock worth $245,013,000 after buying an additional 16,589 shares during the last quarter. Finally, Markel Group Inc. increased its position in Watsco by 2.0% in the fourth quarter. Markel Group Inc. now owns 556,750 shares of the construction company’s stock worth $238,551,000 after buying an additional 11,000 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Performance

Shares of NYSE WSO traded up $4.64 during mid-day trading on Monday, hitting $447.85. The company had a trading volume of 219,699 shares, compared to its average volume of 345,885. The company has a market capitalization of $17.69 billion, a price-to-earnings ratio of 34.08 and a beta of 0.89. Watsco, Inc. has a 1 year low of $315.17 and a 1 year high of $451.29. 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 stock’s 50-day moving average price is $412.36 and its 200-day moving average price is $399.74.

Watsco (NYSE:WSO) last posted its 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). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the firm earned $2.83 earnings per share. Watsco’s quarterly revenue was up .9% compared to the same quarter last year. On average, sell-side analysts forecast that Watsco, Inc. will post 14.25 earnings per share for the current year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.41%. This is a boost from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date is Friday, April 12th. Watsco’s payout ratio is presently 83.08%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Stephens reissued an “overweight” rating and issued a $500.00 target price on shares of Watsco in a research report on Thursday. 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 report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.