AEGON ASSET MANAGEMENT UK Plc Has $57.02 Million Position in Watsco, Inc. (NYSE:WSO)

AEGON ASSET MANAGEMENT UK Plc trimmed its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 19.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,565 shares of the construction company's stock after selling 26,592 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned about 0.28% of Watsco worth $57,017,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. Avidian Wealth Enterprises LLC increased its stake in shares of Watsco by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company's stock worth $567,000 after purchasing an additional 21 shares in the last quarter. Centennial Wealth Advisory LLC lifted its position in Watsco by 3.0% in the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company's stock worth $358,000 after buying an additional 22 shares during the last quarter. M&T Bank Corp grew its position in Watsco by 1.4% in the 4th quarter. M&T Bank Corp now owns 1,686 shares of the construction company's stock valued at $799,000 after acquiring an additional 23 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Watsco by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company's stock worth $3,645,000 after purchasing an additional 23 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Watsco by 1.2% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,949 shares of the construction company's stock valued at $924,000 after acquiring an additional 23 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WSO has been the topic of a number of recent analyst reports. Morgan Stanley began coverage on shares of Watsco in a research note on Monday, April 14th. They set an "equal weight" rating and a $515.00 price target on the stock. UBS Group cut their price objective on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Loop Capital increased their price objective on shares of Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a report on Thursday, February 27th. Mizuho set a $490.00 price objective on Watsco in a report on Thursday, April 24th. Finally, Robert W. Baird lowered their price objective on Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Watsco has a consensus rating of "Hold" and an average price target of $486.67.

Watsco Stock Performance

NYSE WSO traded down $3.74 during mid-day trading on Thursday, reaching $441.57. 205,900 shares of the stock were exchanged, compared to its average volume of 288,438. The stock has a market capitalization of $17.89 billion, a PE ratio of 33.33 and a beta of 1.11. The business's fifty day simple moving average is $476.01 and its 200 day simple moving average is $492.21. Watsco, Inc. has a 1-year low of $430.20 and a 1-year high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share 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 firm had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.66 billion. During the same quarter last year, the company posted $2.17 earnings per share. Watsco's revenue for the quarter was down 2.2% compared to the same quarter last year. On average, analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.72%. This is an increase from Watsco's previous quarterly dividend of $2.70. The ex-dividend date of this dividend was Tuesday, April 15th. Watsco's dividend payout ratio is 92.24%.

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.