Man Group plc Increases Stake in Watsco, Inc. (NYSE:WSO)

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

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Rialto Wealth Management LLC bought a new position in shares of Watsco during the fourth quarter valued at about $31,000. Wingate Wealth Advisors Inc. bought a new position in shares of Watsco during the 4th quarter worth approximately $36,000. Atala Financial Inc bought a new position in shares of Watsco in the fourth quarter valued at approximately $49,000. Golden State Wealth Management LLC purchased a new stake in shares of Watsco during the fourth quarter valued at approximately $50,000. Finally, Tortoise Investment Management LLC lifted its holdings in Watsco by 76.2% during the fourth quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company's stock worth $70,000 after acquiring an additional 64 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WSO has been the topic of a number of research reports. Loop Capital boosted their price objective on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research note on Thursday, February 27th. Mizuho set a $490.00 price objective on shares of Watsco in a report on Thursday, April 24th. Wall Street Zen upgraded shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Morgan Stanley started coverage on 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, UBS Group dropped their price objective on Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Watsco presently has an average rating of "Hold" and a consensus target price of $480.83.

Watsco Stock Down 0.2%

NYSE:WSO traded down $1.11 on Friday, hitting $454.98. The stock had a trading volume of 252,686 shares, compared to its average volume of 254,528. Watsco, Inc. has a 52-week low of $439.08 and a 52-week high of $571.42. The stock has a market cap of $18.43 billion, a price-to-earnings ratio of 34.34 and a beta of 1.11. The business's 50-day simple moving average is $485.90 and its two-hundred day simple moving average is $496.42.

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 analyst estimates of $1.66 billion. During the same quarter last year, the business earned $2.17 earnings per share. Watsco's revenue was down 2.2% on a year-over-year basis. As a group, equities research analysts anticipate 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 given a dividend of $3.00 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This is a boost from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a yield of 2.64%. Watsco's dividend payout ratio 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.