Fmr LLC Has $1.64 Billion Stock Holdings in Watsco, Inc. (NYSE:WSO)

FMR LLC decreased its position in Watsco, Inc. (NYSE:WSO - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,471,241 shares of the construction company's stock after selling 152,918 shares during the period. FMR LLC owned 8.60% of Watsco worth $1,644,986,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Watsco during the fourth quarter worth about $118,312,000. Proficio Capital Partners LLC bought a new position in shares of Watsco during the 4th quarter valued at about $63,603,000. Charles Schwab Investment Management Inc. grew its position in shares of Watsco by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company's stock valued at $649,957,000 after purchasing an additional 118,713 shares during the period. State Street Corp increased its stake in Watsco by 5.9% during the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company's stock worth $577,350,000 after purchasing an additional 65,846 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Watsco by 9.9% during the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company's stock worth $345,783,000 after buying an additional 63,254 shares during the period. 89.71% of the stock is owned by institutional investors.

Watsco Stock Up 2.1 %

Shares of WSO stock traded up $10.63 on Friday, reaching $509.76. The stock had a trading volume of 214,485 shares, compared to its average volume of 254,309. Watsco, Inc. has a 12 month low of $396.82 and a 12 month high of $571.42. The firm has a market capitalization of $20.60 billion, a price-to-earnings ratio of 38.47 and a beta of 1.00. The firm's 50-day moving average is $496.96 and its two-hundred day moving average is $498.92.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates of $2.13 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. On average, sell-side analysts forecast 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 paid 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 dividend yield of 2.35%. This is a positive change from Watsco's previous quarterly dividend of $2.70. Watsco's dividend payout ratio (DPR) is 90.57%.

Analyst Ratings Changes

Several brokerages have recently issued reports on WSO. Raymond James assumed coverage on shares of 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 Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, Loop Capital increased their price objective on Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $486.25.

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.