Watsco, Inc. (NYSE:WSO) Shares Acquired by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 0.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,549,850 shares of the construction company's stock after buying an additional 2,627 shares during the period. Watsco comprises about 1.7% of Kayne Anderson Rudnick Investment Management LLC's investment portfolio, making the stock its 10th biggest holding. Kayne Anderson Rudnick Investment Management LLC owned 3.84% of Watsco worth $734,459,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Watsco by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 3,618,109 shares of the construction company's stock valued at $1,714,586,000 after acquiring an additional 52,127 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Watsco by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company's stock valued at $649,957,000 after purchasing an additional 118,713 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Watsco by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 725,186 shares of the construction company's stock worth $343,168,000 after purchasing an additional 20,856 shares in the last quarter. Markel Group Inc. boosted its holdings in Watsco by 1.4% in the fourth quarter. Markel Group Inc. now owns 590,500 shares of the construction company's stock worth $279,832,000 after purchasing an additional 8,000 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Watsco by 2.9% during the fourth quarter. JPMorgan Chase & Co. now owns 477,470 shares of the construction company's stock worth $226,268,000 after buying an additional 13,409 shares during the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Trading Up 1.4 %

WSO stock traded up $6.09 during trading on Thursday, reaching $452.49. 481,829 shares of the stock were exchanged, compared to its average volume of 258,287. Watsco, Inc. has a twelve month low of $421.83 and a twelve month high of $571.42. The company has a market capitalization of $18.28 billion, a P/E ratio of 34.15 and a beta of 1.00. The stock has a 50 day simple moving average of $501.02 and a 200-day simple moving average of $499.24.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($0.36). The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. During the same period in the previous year, the business posted $2.17 EPS. Equities analysts predict 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 paid a $3.00 dividend. This is a boost from Watsco's previous quarterly dividend of $2.70. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.65%. Watsco's dividend payout ratio is currently 90.57%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Robert W. Baird decreased their price target on Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday. Morgan Stanley assumed coverage on Watsco in a research report on Monday, April 14th. They set an "equal weight" rating and a $515.00 target price for the company. UBS Group dropped their price target on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a research report on Thursday. Loop Capital upped their price objective on shares of Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a report on Thursday, February 27th. Finally, Raymond James started coverage on shares of Watsco in a report on Friday, January 17th. They issued a "market perform" rating on the stock. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $482.50.

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.