UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 11,519 Shares of Watsco, Inc. (NYSE:WSO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 130,379 shares of the construction company's stock after acquiring an additional 11,519 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.32% of Watsco worth $61,785,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Watsco by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company's stock valued at $228,263,000 after purchasing an additional 41,845 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Watsco in the 4th quarter valued at about $10,446,000. AEGON ASSET MANAGEMENT UK Plc increased its position in shares of Watsco by 15.1% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 139,157 shares of the construction company's stock valued at $65,966,000 after acquiring an additional 18,279 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in Watsco by 1.3% during the fourth quarter. Conestoga Capital Advisors LLC now owns 97,832 shares of the construction company's stock worth $46,362,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its holdings in Watsco by 8.5% during the fourth quarter. Bleakley Financial Group LLC now owns 674 shares of the construction company's stock worth $319,000 after acquiring an additional 53 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Watsco Stock Performance

Shares of WSO stock traded down $18.06 during midday trading on Wednesday, hitting $442.05. 369,715 shares of the company were exchanged, compared to its average volume of 255,832. The firm has a market capitalization of $17.91 billion, a P/E ratio of 33.36 and a beta of 1.11. Watsco, Inc. has a 52 week low of $439.08 and a 52 week high of $571.42. The firm's 50 day moving average price is $483.99 and its two-hundred day moving average price is $495.65.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings data 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). 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 firm's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.17 EPS. Analysts expect that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were issued a dividend of $3.00 per share. The ex-dividend date was Tuesday, April 15th. This is a boost from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a dividend yield of 2.71%. Watsco's dividend payout ratio (DPR) is currently 92.24%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Robert W. Baird decreased their price target on Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. UBS Group decreased their target price on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Morgan Stanley began 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. Loop Capital increased their price target on shares of Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Watsco currently has a consensus rating of "Hold" and an average target price of $486.67.

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.