Watsco, Inc. (NYSE:WSO) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its position in Watsco, Inc. (NYSE:WSO - Free Report) by 2.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,882 shares of the construction company's stock after selling 1,165 shares during the period. Alliancebernstein L.P. owned 0.12% of Watsco worth $23,639,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WSO. Vanguard Group Inc. grew 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 worth $1,714,586,000 after acquiring an additional 52,127 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Watsco by 9.5% in 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 purchasing an additional 118,713 shares during the period. State Street Corp increased its stake in Watsco by 5.9% during the third quarter. State Street Corp now owns 1,173,762 shares of the construction company's stock valued at $577,350,000 after purchasing an additional 65,846 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Watsco by 9.9% during the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company's stock worth $345,783,000 after purchasing an additional 63,254 shares during the period. Finally, Markel Group Inc. lifted its position in shares of 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 buying an additional 8,000 shares during the last quarter. 89.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

WSO has been the topic of several research reports. 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. Raymond James started coverage on Watsco in a research report on Friday, January 17th. They set a "market perform" rating on the stock. Finally, Robert W. Baird boosted their price objective on Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $486.25.

Watsco Stock Performance

Shares of NYSE:WSO traded up $10.63 during trading hours on Friday, hitting $509.76. The stock had a trading volume of 214,485 shares, compared to its average volume of 254,309. The stock's fifty day simple moving average is $496.96 and its 200 day simple moving average is $498.92. The firm has a market capitalization of $20.60 billion, a price-to-earnings ratio of 38.47 and a beta of 1.00. 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 posted its earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.13 by $0.24. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The firm had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.67 billion. As a group, research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The business 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 represents a $12.00 annualized dividend and a yield of 2.35%. This is an increase from Watsco's previous quarterly dividend of $2.70. Watsco's dividend payout ratio is presently 90.57%.

About Watsco

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.