Anchor Investment Management LLC Has $8.66 Million Stock Position in Watsco, Inc. (NYSE:WSO)

Anchor Investment Management LLC increased its position in Watsco, Inc. (NYSE:WSO - Free Report) by 7,911.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,266 shares of the construction company's stock after purchasing an additional 18,038 shares during the quarter. Watsco accounts for 0.8% of Anchor Investment Management LLC's portfolio, making the stock its 28th largest position. Anchor Investment Management LLC's holdings in Watsco were worth $8,656,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its stake in Watsco by 32.2% during the 3rd quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company's stock valued at $2,094,000 after acquiring an additional 1,038 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Watsco by 5.6% in the 3rd quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company's stock valued at $25,645,000 after purchasing an additional 2,738 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Watsco by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company's stock worth $228,263,000 after purchasing an additional 41,845 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Watsco in the fourth quarter worth about $10,446,000. Finally, AEGON ASSET MANAGEMENT UK Plc increased its holdings in 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 buying an additional 18,279 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company's stock.

Watsco Stock Up 2.0 %

Watsco stock traded up $9.94 during trading hours on Friday, hitting $507.62. 272,958 shares of the company traded hands, compared to its average volume of 254,293. The firm's 50-day simple moving average is $500.71 and its two-hundred day simple moving average is $499.31. The firm has a market cap of $20.51 billion, a P/E ratio of 38.31 and a beta of 1.00. Watsco, Inc. has a 1-year low of $396.82 and a 1-year high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last released its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, topping analysts' consensus estimates of $2.13 by $0.24. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. On average, equities research analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be given a $3.00 dividend. The ex-dividend date of this dividend is 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 yield of 2.36%. Watsco's payout ratio is 90.57%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Robert W. Baird upped their price target on Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Raymond James began coverage on shares of Watsco in a research note on Friday, January 17th. They set a "market perform" rating on the stock. Loop Capital upped their target price on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a report on Thursday, February 27th. Finally, Morgan Stanley began coverage on Watsco in a research report on Monday, April 14th. They set an "equal weight" rating and a $515.00 price objective for the company. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Watsco presently has a consensus rating of "Hold" and a consensus target price of $492.00.

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.