Schroder Investment Management Group Trims Stock Holdings in Watsco, Inc. (NYSE:WSO)

Schroder Investment Management Group cut its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 83.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,173 shares of the construction company's stock after selling 26,502 shares during the quarter. Schroder Investment Management Group's holdings in Watsco were worth $2,456,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Allstate Corp acquired a new position in shares of Watsco during the 4th quarter worth about $479,000. Brown Brothers Harriman & Co. raised its holdings in shares of Watsco by 11.5% during the fourth quarter. Brown Brothers Harriman & Co. now owns 132,393 shares of the construction company's stock valued at $62,740,000 after acquiring an additional 13,630 shares during the last quarter. Level Four Advisory Services LLC raised its holdings in shares of Watsco by 0.9% during the fourth quarter. Level Four Advisory Services LLC now owns 5,176 shares of the construction company's stock valued at $2,453,000 after acquiring an additional 48 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Watsco by 2.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 16,110 shares of the construction company's stock valued at $7,634,000 after acquiring an additional 332 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Watsco by 37.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 13,662 shares of the construction company's stock worth $6,474,000 after acquiring an additional 3,720 shares during the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Up 2.1 %

Shares of WSO traded up $10.63 during midday trading on Friday, reaching $509.76. The company had a trading volume of 214,485 shares, compared to its average volume of 254,309. Watsco, Inc. has a 1-year low of $396.82 and a 1-year high of $571.42. The firm has a 50 day simple moving average of $496.96 and a 200-day simple moving average of $498.92. The stock has a market cap of $20.60 billion, a PE ratio of 38.47 and a beta of 1.00.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. As a group, sell-side analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued 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 dividend on an annualized basis and a yield of 2.35%. Watsco's dividend payout ratio is currently 90.57%.

Analysts Set New Price Targets

A number of brokerages have weighed in on WSO. Raymond James started coverage on Watsco in a report on Friday, January 17th. They issued a "market perform" rating on the stock. Loop Capital raised their price target 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 upped their price objective on shares of Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price 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.