Handelsbanken Fonder AB Reduces Holdings in Watsco, Inc. $WSO

Handelsbanken Fonder AB lowered its position in Watsco, Inc. (NYSE:WSO) by 23.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,058 shares of the construction company’s stock after selling 29,400 shares during the quarter. Handelsbanken Fonder AB owned about 0.23% of Watsco worth $41,538,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new stake in Watsco in the second quarter worth about $486,000. Catalyst Funds Management Pty Ltd purchased a new stake in shares of Watsco in the second quarter worth approximately $331,000. TD Waterhouse Canada Inc. lifted its stake in shares of Watsco by 242.9% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 72 shares of the construction company’s stock worth $33,000 after acquiring an additional 51 shares during the last quarter. FineMark National Bank & Trust lifted its stake in shares of Watsco by 0.4% during the 2nd quarter. FineMark National Bank & Trust now owns 16,287 shares of the construction company’s stock worth $7,193,000 after acquiring an additional 71 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. grew its position in Watsco by 4.0% in the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,481 shares of the construction company’s stock valued at $654,000 after acquiring an additional 57 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WSO has been the subject of a number of recent analyst reports. Morgan Stanley lowered their target price on shares of Watsco from $505.00 to $460.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. William Blair reiterated a “market perform” rating on shares of Watsco in a report on Wednesday, October 15th. JPMorgan Chase & Co. dropped their target price on shares of Watsco from $400.00 to $360.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Watsco in a research report on Thursday, October 30th. Finally, Zacks Research lowered Watsco from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $435.00.

Watsco Stock Performance

NYSE WSO opened at $336.58 on Friday. The firm’s 50 day moving average price is $371.55 and its 200-day moving average price is $417.45. Watsco, Inc. has a 52-week low of $323.05 and a 52-week high of $571.41. The company has a market cap of $13.65 billion, a PE ratio of 26.30 and a beta of 0.93.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Friday, November 7th. The construction company reported $3.98 EPS for the quarter. The company had revenue of $2.07 billion during the quarter. Watsco had a net margin of 7.04% and a return on equity of 16.48%. On average, analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Thursday, October 16th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Thursday, October 16th. This represents a $12.00 dividend on an annualized basis and a yield of 3.6%. Watsco’s dividend payout ratio (DPR) is presently 93.75%.

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.