Anchor Capital Advisors LLC Has $40.40 Million Position in Watsco, Inc. (NYSE:WSO)

Anchor Capital Advisors LLC reduced its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,255 shares of the construction company's stock after selling 4,016 shares during the period. Anchor Capital Advisors LLC owned approximately 0.21% of Watsco worth $40,402,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. QRG Capital Management Inc. lifted its holdings in shares of Watsco by 15.1% during the fourth quarter. QRG Capital Management Inc. now owns 1,318 shares of the construction company's stock valued at $625,000 after purchasing an additional 173 shares during the last quarter. Versor Investments LP grew its position in Watsco by 10.0% during the 4th quarter. Versor Investments LP now owns 2,200 shares of the construction company's stock worth $1,043,000 after purchasing an additional 200 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Watsco during the 4th quarter valued at $63,603,000. Oppenheimer & Co. Inc. lifted its holdings in shares of Watsco by 9.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 9,311 shares of the construction company's stock valued at $4,412,000 after purchasing an additional 813 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Watsco by 0.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 20,774 shares of the construction company's stock worth $9,845,000 after buying an additional 79 shares during the period. Institutional investors and hedge funds own 89.71% of the company's stock.

Insider Buying and Selling at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.86% of the company's stock.

Watsco Price Performance

Shares of WSO stock traded down $0.04 during trading on Tuesday, reaching $493.89. The company had a trading volume of 191,619 shares, compared to its average volume of 251,466. The company has a market capitalization of $19.94 billion, a PE ratio of 37.39 and a beta of 0.95. The firm's 50 day simple moving average is $485.33 and its two-hundred day simple moving average is $493.65. Watsco, Inc. has a one year low of $388.47 and a one year high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings data 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 return on equity of 17.59% and a net margin of 7.04%. Analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, January 17th. Watsco's payout ratio is presently 81.51%.

Analysts Set New Price Targets

A number of brokerages have commented on WSO. Raymond James began coverage on Watsco in a research report on Friday, January 17th. They set a "market perform" rating for the company. Robert W. Baird boosted their price target on shares of Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Loop Capital lifted their price objective on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research report on Thursday, February 27th. Finally, Northcoast Research assumed coverage on Watsco in a research note on Friday, November 22nd. They issued a "neutral" rating for the company. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $486.25.

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.