Swedbank AB Trims Holdings in Watsco, Inc. (NYSE:WSO)

Swedbank AB lessened its stake in Watsco, Inc. (NYSE:WSO) by 9.0% in the third quarter, Holdings Channel reports. The institutional investor owned 173,787 shares of the construction company’s stock after selling 17,225 shares during the quarter. Swedbank AB’s holdings in Watsco were worth $85,482,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. J. W. Coons Advisors LLC increased its position in shares of Watsco by 0.7% in the 3rd quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock worth $1,475,000 after purchasing an additional 20 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after buying an additional 22 shares during the last quarter. CWM LLC raised its stake in Watsco by 2.6% during the third quarter. CWM LLC now owns 952 shares of the construction company’s stock valued at $468,000 after buying an additional 24 shares in the last quarter. MCF Advisors LLC lifted its holdings in Watsco by 27.8% during the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after buying an additional 25 shares during the last quarter. Finally, Equitable Trust Co. grew its position in shares of Watsco by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 1,166 shares of the construction company’s stock worth $574,000 after acquiring an additional 25 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WSO shares. JPMorgan Chase & Co. upped their price target on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Robert W. Baird dropped their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Northcoast Research began coverage on shares of Watsco in a research report on Friday. They set a “neutral” rating for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Watsco currently has an average rating of “Moderate Buy” and a consensus price target of $491.25.

Watsco Price Performance

Shares of NYSE WSO opened at $554.79 on Monday. The firm has a market capitalization of $22.40 billion, a PE ratio of 42.87 and a beta of 0.88. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $555.42. The business’s fifty day moving average price is $499.99 and its two-hundred day moving average price is $485.27.

Watsco (NYSE:WSO) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the business earned $4.35 EPS. Equities research analysts expect that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 1.95%. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

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.