Andra AP fonden Boosts Holdings in Watsco, Inc. $WSO

Andra AP fonden boosted its stake in Watsco, Inc. (NYSE:WSO) by 2,381.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,200 shares of the construction company’s stock after buying an additional 37,620 shares during the quarter. Andra AP fonden owned approximately 0.10% of Watsco worth $17,312,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. lifted its holdings in shares of Watsco by 1.7% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 11,759 shares of the construction company’s stock worth $5,186,000 after acquiring an additional 193 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Watsco by 161.2% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,285 shares of the construction company’s stock worth $567,000 after purchasing an additional 793 shares during the last quarter. Fullcircle Wealth LLC raised its stake in Watsco by 23.4% during the second quarter. Fullcircle Wealth LLC now owns 580 shares of the construction company’s stock worth $247,000 after purchasing an additional 110 shares during the period. Obermeyer Wealth Partners boosted its holdings in shares of Watsco by 0.8% in the 2nd quarter. Obermeyer Wealth Partners now owns 5,484 shares of the construction company’s stock valued at $2,422,000 after purchasing an additional 41 shares during the last quarter. Finally, Corton Capital Inc. purchased a new stake in shares of Watsco during the 2nd quarter valued at $222,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WSO shares. Morgan Stanley dropped their price objective on Watsco from $505.00 to $460.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Zacks Research lowered Watsco from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of Watsco in a report on Thursday, October 30th. UBS Group reduced their price objective on Watsco from $425.00 to $390.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, William Blair reissued a “market perform” rating on shares of Watsco in a research report on Wednesday, October 15th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $435.00.

Watsco Stock Down 2.0%

WSO opened at $350.66 on Friday. The firm’s 50 day moving average is $383.83 and its 200-day moving average is $426.98. Watsco, Inc. has a 52-week low of $350.00 and a 52-week high of $571.41. The firm has a market capitalization of $14.22 billion, a P/E ratio of 27.40 and a beta of 0.93.

Watsco (NYSE:WSO) last announced its earnings results on Wednesday, October 29th. The construction company reported $3.98 earnings per share for the quarter, missing the consensus estimate of $4.60 by ($0.62). Watsco had a net margin of 7.04% and a return on equity of 16.48%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter last year, the company posted $4.22 earnings per share. Watsco’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders 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 dividend yield of 3.4%. Watsco’s dividend payout ratio (DPR) is presently 93.75%.

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.