Marshall Wace LLP Has $8.44 Million Position in Watsco, Inc. (NYSE:WSO)

Marshall Wace LLP boosted its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 278.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,800 shares of the construction company's stock after acquiring an additional 13,100 shares during the period. Marshall Wace LLP's holdings in Watsco were worth $8,435,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WSO. Rialto Wealth Management LLC bought a new position in Watsco during the fourth quarter worth $31,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Watsco during the 4th quarter valued at about $36,000. Atala Financial Inc acquired a new stake in Watsco during the fourth quarter worth approximately $49,000. Golden State Wealth Management LLC bought a new stake in Watsco in the fourth quarter worth approximately $50,000. Finally, Tortoise Investment Management LLC lifted its stake in Watsco by 76.2% in the fourth quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company's stock valued at $70,000 after buying an additional 64 shares during the period. Institutional investors own 89.71% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Loop Capital boosted their target price on shares of Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research report on Thursday, February 27th. Raymond James started coverage on Watsco in a report on Friday, January 17th. They issued a "market perform" rating on the stock. Robert W. Baird raised their price objective on Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. 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 target price on the stock. Five equities research 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, the stock currently has a consensus rating of "Hold" and a consensus price target of $492.00.

Watsco Stock Up 2.0 %

Shares of NYSE:WSO opened at $504.68 on Wednesday. The business's 50 day moving average is $501.79 and its 200 day moving average is $499.61. Watsco, Inc. has a 12-month low of $407.00 and a 12-month high of $571.42. The stock has a market cap of $20.39 billion, a price-to-earnings ratio of 38.09 and a beta of 1.00.

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

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders 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 annualized dividend and a dividend yield of 2.38%. This is a boost from Watsco's previous quarterly dividend of $2.70. Watsco's dividend payout ratio (DPR) is currently 90.57%.

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.

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