Watsco, Inc. (NYSE:WSO) Shares Sold by Invesco Ltd.

Invesco Ltd. decreased its position in Watsco, Inc. (NYSE:WSO - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,480 shares of the construction company's stock after selling 4,860 shares during the period. Invesco Ltd. owned about 0.47% of Watsco worth $89,319,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Toronto Dominion Bank boosted its holdings in Watsco by 32.2% in the 3rd quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company's stock valued at $2,094,000 after purchasing an additional 1,038 shares in the last quarter. Franklin Resources Inc. grew its holdings in Watsco by 5.6% during the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company's stock worth $25,645,000 after acquiring an additional 2,738 shares during the period. JPMorgan Chase & Co. grew its holdings in Watsco by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company's stock worth $228,263,000 after acquiring an additional 41,845 shares during the period. Janney Montgomery Scott LLC purchased a new position in Watsco in the fourth quarter worth $10,446,000. Finally, AEGON ASSET MANAGEMENT UK Plc boosted its position in shares of Watsco by 15.1% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 139,157 shares of the construction company's stock worth $65,966,000 after purchasing an additional 18,279 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company's stock.

Watsco Stock Up 2.0 %

Shares of Watsco stock traded up $9.94 during trading on Friday, hitting $507.62. 272,958 shares of the company were exchanged, compared to its average volume of 254,156. The firm has a 50 day moving average price of $500.00 and a 200 day moving average price of $499.23. The stock has a market capitalization of $20.51 billion, a price-to-earnings ratio of 38.31 and a beta of 1.00. Watsco, Inc. has a fifty-two week low of $396.82 and a fifty-two week high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last announced its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating 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 the consensus estimate of $1.67 billion. Analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Tuesday, April 15th. This is a positive change from Watsco's previous quarterly dividend of $2.70. Watsco's dividend payout ratio (DPR) is 90.57%.

Analysts Set New Price Targets

WSO has been the subject of a number of research analyst reports. Raymond James started coverage on shares of Watsco in a report on Friday, January 17th. They issued a "market perform" rating for the company. Loop Capital lifted their price target 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. Morgan Stanley began coverage on Watsco in a research note on Monday. They set an "equal weight" rating and a $515.00 price target on the stock. Finally, Robert W. Baird lifted their price objective on Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Watsco presently has a consensus rating of "Hold" and an average price target of $492.00.

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.