Handelsbanken Fonder AB Has $58.03 Million Holdings in Watsco, Inc. (NYSE:WSO)

Handelsbanken Fonder AB decreased its position in Watsco, Inc. (NYSE:WSO) by 4.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 122,458 shares of the construction company’s stock after selling 5,100 shares during the period. Handelsbanken Fonder AB’s holdings in Watsco were worth $58,032,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WSO. Wingate Wealth Advisors Inc. purchased a new position in shares of Watsco during the fourth quarter valued at $36,000. Ashton Thomas Securities LLC purchased a new position in Watsco during the 3rd quarter valued at about $43,000. Quarry LP grew its stake in Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after acquiring an additional 33 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Watsco in the 3rd quarter valued at about $48,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Watsco in the fourth quarter worth approximately $50,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Stock Down 3.7 %

NYSE WSO opened at $511.11 on Thursday. The stock has a market capitalization of $20.64 billion, a PE ratio of 38.57 and a beta of 0.95. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $571.41. The company has a 50 day moving average price of $484.90 and a two-hundred day moving average price of $491.75.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.24. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.61%. As a group, equities analysts anticipate that Watsco, Inc. will post 14.5 EPS 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 dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.11%. Watsco’s dividend payout ratio (DPR) is presently 81.51%.

Analysts Set New Price Targets

A number of brokerages recently commented on WSO. Raymond James initiated coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating on the stock. Northcoast Research started coverage on shares of Watsco in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Robert W. Baird increased their price objective on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $495.00.

Insider Activity

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.86% of the stock is currently owned by insiders.

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.