Handelsbanken Fonder AB Cuts Stock Holdings in Watsco, Inc. (NYSE:WSO)

Handelsbanken Fonder AB lessened its holdings in Watsco, Inc. (NYSE:WSO) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,458 shares of the construction company’s stock after selling 5,100 shares during the quarter. Handelsbanken Fonder AB owned 0.30% of Watsco worth $58,032,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Planning boosted its stake in shares of Watsco by 7.7% in the third quarter. Creative Planning now owns 5,212 shares of the construction company’s stock valued at $2,564,000 after buying an additional 371 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Watsco by 139.5% during the 3rd quarter. Blue Trust Inc. now owns 527 shares of the construction company’s stock worth $244,000 after purchasing an additional 307 shares in the last quarter. Eastern Bank acquired a new position in shares of Watsco during the 3rd quarter worth $1,463,000. International Assets Investment Management LLC increased its holdings in shares of Watsco by 48,984.7% in the 3rd quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock valued at $114,924,000 after purchasing an additional 233,167 shares in the last quarter. Finally, Impact Partnership Wealth LLC acquired a new stake in shares of Watsco in the third quarter valued at about $397,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Insider Activity

In other news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 12.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WSO shares. Robert W. Baird upped their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday. Northcoast Research initiated coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Finally, Raymond James assumed coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $495.00.

Watsco Stock Down 3.7 %

Shares of NYSE WSO opened at $511.11 on Thursday. The stock has a market capitalization of $20.64 billion, a P/E ratio of 38.57 and a beta of 0.95. The firm’s 50-day moving average price is $484.90 and its two-hundred day moving average price is $491.75. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41.

Watsco (NYSE:WSO) last announced its quarterly earnings results 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. Watsco had a return on equity of 17.61% and a net margin of 7.04%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. As a group, equities research analysts expect that Watsco, Inc. will post 14.5 earnings per share for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio is currently 81.51%.

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.