Man Group plc Grows Stock Holdings in Watsco, Inc. (NYSE:WSO)

Man Group plc raised its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 26.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,474 shares of the construction company's stock after buying an additional 3,688 shares during the period. Man Group plc's holdings in Watsco were worth $8,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in WSO. Rialto Wealth Management LLC purchased a new stake in Watsco in the 4th quarter valued at about $31,000. Wingate Wealth Advisors Inc. purchased a new stake in Watsco in the 4th quarter valued at about $36,000. Atala Financial Inc purchased a new stake in Watsco in the 4th quarter valued at about $49,000. Golden State Wealth Management LLC purchased a new stake in Watsco in the 4th quarter valued at about $50,000. Finally, Tortoise Investment Management LLC boosted its position in Watsco by 76.2% in the 4th quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company's stock valued at $70,000 after buying an additional 64 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WSO has been the subject of several research reports. Robert W. Baird lowered their price target on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Mizuho set a $490.00 price target on shares of Watsco in a research report on Thursday, April 24th. Loop Capital upped their price target 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. Morgan Stanley initiated coverage on shares of Watsco in a research report on Monday, April 14th. They issued an "equal weight" rating and a $515.00 price target for the company. Finally, StockNews.com raised shares of Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $480.83.

Watsco Stock Down 0.8%

NYSE WSO opened at $488.06 on Tuesday. The firm has a market cap of $19.72 billion, a PE ratio of 36.83 and a beta of 1.11. The company has a 50 day moving average price of $489.46 and a 200 day moving average price of $497.58. Watsco, Inc. has a 52 week low of $439.08 and a 52 week high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.36). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The company's revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.17 EPS. On average, equities research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a $3.00 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.46%. This is a boost from Watsco's previous quarterly dividend of $2.70. Watsco's dividend payout ratio (DPR) is currently 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.

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