Watsco, Inc. $WSO Shares Sold by Andra AP fonden

Andra AP fonden lessened its holdings in shares of Watsco, Inc. (NYSE:WSO) by 65.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,508 shares of the construction company’s stock after selling 25,692 shares during the quarter. Andra AP fonden’s holdings in Watsco were worth $5,461,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WSO. Charles Schwab Investment Management Inc. lifted its position in shares of Watsco by 2.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,485,996 shares of the construction company’s stock worth $656,036,000 after acquiring an additional 31,484 shares during the period. Captrust Financial Advisors increased its position in Watsco by 0.3% in the second quarter. Captrust Financial Advisors now owns 389,104 shares of the construction company’s stock worth $171,836,000 after purchasing an additional 1,234 shares during the period. DAVENPORT & Co LLC lifted its stake in shares of Watsco by 11.2% in the 3rd quarter. DAVENPORT & Co LLC now owns 356,844 shares of the construction company’s stock valued at $143,748,000 after purchasing an additional 36,010 shares during the period. Corient Private Wealth LLC raised its position in shares of Watsco by 106.4% in the 2nd quarter. Corient Private Wealth LLC now owns 296,170 shares of the construction company’s stock valued at $130,801,000 after acquiring an additional 152,662 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in Watsco by 5.3% during the third quarter. Envestnet Asset Management Inc. now owns 276,750 shares of the construction company’s stock worth $111,890,000 after acquiring an additional 14,013 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Price Performance

WSO opened at $417.46 on Friday. The company has a fifty day moving average price of $384.74 and a 200-day moving average price of $378.31. The firm has a market capitalization of $16.93 billion, a P/E ratio of 34.47 and a beta of 1.04. Watsco, Inc. has a one year low of $323.05 and a one year high of $533.07.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, February 17th. The construction company reported $1.68 EPS for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.26). The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Watsco had a return on equity of 15.49% and a net margin of 6.87%.Watsco’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.37 EPS. On average, analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 16th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, January 16th. Watsco’s dividend payout ratio is 99.09%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on WSO shares. JPMorgan Chase & Co. increased their target price on shares of Watsco from $370.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. UBS Group initiated coverage on shares of Watsco in a research report on Monday, January 5th. They issued a “neutral” rating and a $370.00 price target for the company. Wolfe Research set a $349.00 target price on Watsco in a research note on Tuesday, December 9th. KeyCorp reissued a “sector weight” rating on shares of Watsco in a report on Friday, December 12th. Finally, Zacks Research raised Watsco from a “strong sell” rating to a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $409.00.

Watsco Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.