Anchor Investment Management LLC Has $8.66 Million Stock Position in Watsco, Inc. (NYSE:WSO)

Anchor Investment Management LLC increased its holdings in Watsco, Inc. (NYSE:WSO) by 7,911.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,266 shares of the construction company’s stock after acquiring an additional 18,038 shares during the period. Watsco comprises 0.8% of Anchor Investment Management LLC’s investment portfolio, making the stock its 28th biggest holding. Anchor Investment Management LLC’s holdings in Watsco were worth $8,656,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

WSO has been the topic of a number of research reports. Morgan Stanley initiated coverage on shares of Watsco in a report on Monday. They issued an “equal weight” rating and a $515.00 price target on the stock. Robert W. Baird boosted their target price on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Loop Capital increased their price target on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday, February 27th. Finally, Raymond James began coverage on Watsco in a research note on Friday, January 17th. They issued a “market perform” rating on the stock. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $492.00.

Watsco Price Performance

WSO opened at $516.23 on Tuesday. Watsco, Inc. has a one year low of $396.82 and a one year high of $571.42. The company has a fifty day moving average price of $497.82 and a 200-day moving average price of $499.05. The firm has a market capitalization of $20.86 billion, a P/E ratio of 38.96 and a beta of 1.00.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. The business 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%. On average, analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a $3.00 dividend. 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 2.32%. The ex-dividend date is Tuesday, April 15th. Watsco’s dividend payout ratio is presently 90.57%.

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.