Andra AP fonden Sells 25,692 Shares of Watsco, Inc. $WSO

Andra AP fonden reduced its position in Watsco, Inc. (NYSE:WSO) by 65.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 and hedge funds also recently bought and sold shares of the business. SJS Investment Consulting Inc. raised its stake in Watsco by 2,366.7% during the 3rd quarter. SJS Investment Consulting Inc. now owns 74 shares of the construction company’s stock worth $30,000 after buying an additional 71 shares during the period. TD Waterhouse Canada Inc. boosted its stake in shares of Watsco by 242.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 72 shares of the construction company’s stock valued at $33,000 after purchasing an additional 51 shares in the last quarter. TruNorth Capital Management LLC acquired a new stake in Watsco during the third quarter worth approximately $37,000. Capital A Wealth Management LLC grew its stake in Watsco by 4,700.0% in the second quarter. Capital A Wealth Management LLC now owns 96 shares of the construction company’s stock valued at $41,000 after acquiring an additional 94 shares during the period. Finally, Hantz Financial Services Inc. grew its stake in shares of Watsco by 1,300.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 112 shares of the construction company’s stock worth $49,000 after acquiring an additional 104 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Up 1.6%

Watsco stock opened at $417.46 on Friday. Watsco, Inc. has a 52-week low of $323.05 and a 52-week high of $533.07. The company has a fifty day simple moving average of $384.74 and a 200-day simple moving average of $378.31. The firm has a market capitalization of $16.93 billion, a price-to-earnings ratio of 34.47 and a beta of 1.04.

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

Watsco Announces Dividend

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

Analysts Set New Price Targets

WSO has been the topic of several research reports. UBS Group assumed coverage on shares of Watsco in a research report on Monday, January 5th. They issued a “neutral” rating and a $370.00 price target on the stock. Morgan Stanley decreased their price target on shares of Watsco from $460.00 to $370.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 14th. JPMorgan Chase & Co. lifted their target price on Watsco from $370.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Wolfe Research set a $349.00 target price on shares of Watsco in a research report on Tuesday, December 9th. Finally, Mizuho set a $425.00 target price on Watsco in a research note on Wednesday, February 18th. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Watsco has a consensus rating of “Hold” and an average price target 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.