Wellington Management Group LLP Has $167.69 Million Holdings in Watsco, Inc. (NYSE:WSO)

Wellington Management Group LLP decreased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 21.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 353,849 shares of the construction company’s stock after selling 96,362 shares during the period. Wellington Management Group LLP’s holdings in Watsco were worth $167,686,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in WSO. Rialto Wealth Management LLC acquired a new position in shares of Watsco during the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. bought a new position in shares of Watsco in the fourth quarter valued at $36,000. Quarry LP increased its holdings in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after buying an additional 33 shares during the last quarter. Atala Financial Inc bought a new stake in Watsco during the fourth quarter worth $49,000. Finally, Golden State Wealth Management LLC acquired a new stake in Watsco in the fourth quarter valued at $50,000. Institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

WSO has been the topic of several recent analyst reports. Loop Capital boosted their price objective on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday, February 27th. Robert W. Baird boosted their price target on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Raymond James began coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Watsco presently has an average rating of “Hold” and an average target price of $486.25.

Watsco Price Performance

WSO stock opened at $520.95 on Thursday. Watsco, Inc. has a fifty-two week low of $396.82 and a fifty-two week high of $571.42. The stock has a market capitalization of $21.05 billion, a price-to-earnings ratio of 39.32 and a beta of 1.00. The business’s fifty day moving average price is $496.79 and its two-hundred day moving average price is $499.41.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. Research analysts expect that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be given a dividend of $3.00 per share. The ex-dividend date is Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a yield of 2.30%. This is an increase from Watsco’s previous quarterly dividend of $2.70. Watsco’s dividend payout ratio is currently 81.51%.

Watsco 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.