Neuberger Berman Group LLC Sells 1,364 Shares of Watsco, Inc. (NYSE:WSO)

Neuberger Berman Group LLC cut its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 0.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 595,982 shares of the construction company's stock after selling 1,364 shares during the quarter. Neuberger Berman Group LLC owned approximately 1.48% of Watsco worth $282,428,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Bessemer Group Inc. grew its holdings in Watsco by 8.3% during the fourth quarter. Bessemer Group Inc. now owns 341 shares of the construction company's stock valued at $162,000 after purchasing an additional 26 shares during the period. Abacus FCF Advisors LLC grew its stake in shares of Watsco by 44.4% during the 4th quarter. Abacus FCF Advisors LLC now owns 6,048 shares of the construction company's stock worth $2,866,000 after acquiring an additional 1,860 shares during the period. Renaissance Technologies LLC increased its holdings in Watsco by 134.6% in the 4th quarter. Renaissance Technologies LLC now owns 62,400 shares of the construction company's stock worth $29,571,000 after acquiring an additional 35,800 shares during the last quarter. Bank of Montreal Can raised its stake in Watsco by 4.1% in the 4th quarter. Bank of Montreal Can now owns 11,624 shares of the construction company's stock valued at $5,508,000 after acquiring an additional 462 shares during the period. Finally, Certior Financial Group LLC bought a new stake in Watsco in the 4th quarter valued at about $442,000. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Performance

Watsco stock traded down $1.67 during midday trading on Tuesday, hitting $510.15. 49,750 shares of the company's stock were exchanged, compared to its average volume of 253,241. The company has a market cap of $20.61 billion, a P/E ratio of 38.50 and a beta of 1.00. The stock has a 50-day moving average price of $497.82 and a two-hundred day moving average price of $499.05. Watsco, Inc. has a 52-week low of $396.82 and a 52-week high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share 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 company had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.67 billion. As a group, sell-side analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be given a $3.00 dividend. The ex-dividend date is Tuesday, April 15th. This is a positive change from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a yield of 2.35%. Watsco's payout ratio is 90.57%.

Analyst Upgrades and Downgrades

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

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.