Rockefeller Capital Management L.P. cut its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,433 shares of the construction company's stock after selling 595 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Watsco were worth $4,944,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Watsco by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 3,618,109 shares of the construction company's stock valued at $1,714,586,000 after purchasing an additional 52,127 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Watsco by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company's stock worth $649,957,000 after buying an additional 118,713 shares during the period. Geode Capital Management LLC grew its holdings in shares of Watsco by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 725,186 shares of the construction company's stock valued at $343,168,000 after buying an additional 20,856 shares during the last quarter. Markel Group Inc. raised its stake in Watsco by 1.4% in the 4th quarter. Markel Group Inc. now owns 590,500 shares of the construction company's stock worth $279,832,000 after acquiring an additional 8,000 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Watsco by 2.9% during the 4th quarter. JPMorgan Chase & Co. now owns 477,470 shares of the construction company's stock worth $226,268,000 after acquiring an additional 13,409 shares during the period. Institutional investors and hedge funds own 89.71% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. Raymond James started coverage on Watsco in a research note on Friday, January 17th. They issued a "market perform" rating for the company. Morgan Stanley began coverage on shares of Watsco in a research note on Monday. They set an "equal weight" rating and a $515.00 price objective for the company. Loop Capital increased their price objective on shares of Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research note on Thursday, February 27th. Finally, Robert W. Baird boosted their target price on shares of Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $492.00.
Check Out Our Latest Analysis on WSO
Watsco Price Performance
WSO opened at $507.62 on Friday. The stock has a market cap of $20.51 billion, a P/E ratio of 38.31 and a beta of 1.00. The firm has a fifty day moving average price of $500.00 and a 200 day moving average price of $499.23. 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 issued its quarterly earnings data 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 net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. Equities analysts expect that Watsco, Inc. will post 14.62 EPS for the current year.
Watsco Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be given a $3.00 dividend. The ex-dividend date is Tuesday, April 15th. This is a boost from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.36%. Watsco's payout ratio is 90.57%.
About Watsco
(
Free Report)
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.
See Also
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