Marshall Wace LLP Grows Stake in Watsco, Inc. (NYSE:WSO)

Marshall Wace LLP lifted its position in Watsco, Inc. (NYSE:WSO - Free Report) by 278.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,800 shares of the construction company's stock after buying an additional 13,100 shares during the period. Marshall Wace LLP's holdings in Watsco were worth $8,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. My Legacy Advisors LLC lifted its position in Watsco by 3.2% during the fourth quarter. My Legacy Advisors LLC now owns 687 shares of the construction company's stock valued at $329,000 after purchasing an additional 21 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its position in Watsco by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company's stock valued at $567,000 after purchasing an additional 21 shares in the last quarter. Centennial Wealth Advisory LLC lifted its position in Watsco by 3.0% during the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company's stock valued at $358,000 after purchasing an additional 22 shares in the last quarter. M&T Bank Corp lifted its position in Watsco by 1.4% during the fourth quarter. M&T Bank Corp now owns 1,686 shares of the construction company's stock valued at $799,000 after purchasing an additional 23 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Watsco by 0.3% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company's stock valued at $3,645,000 after purchasing an additional 23 shares in the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Price Performance

Shares of WSO stock traded down $0.15 during trading hours on Monday, hitting $455.93. The stock had a trading volume of 234,954 shares, compared to its average volume of 255,406. Watsco, Inc. has a one year low of $439.08 and a one year high of $571.42. The stock's 50-day moving average price is $497.77 and its two-hundred day moving average price is $498.58. The stock has a market capitalization of $18.42 billion, a price-to-earnings ratio of 34.41 and a beta of 1.00.

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

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.63%. This is a boost from Watsco's previous quarterly dividend of $2.70. The ex-dividend date of this dividend is Tuesday, April 15th. Watsco's payout ratio is 92.24%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. UBS Group lowered their target price on Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a research report on Thursday. Loop Capital lifted their target price on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research report on Thursday, February 27th. Morgan Stanley started coverage on Watsco in a research report on Monday, April 14th. They set an "equal weight" rating and a $515.00 target price on the stock. StockNews.com cut Watsco from a "hold" rating to a "sell" rating in a report on Friday. Finally, Mizuho set a $490.00 price target on Watsco in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $480.83.

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.