AIA Group Ltd Trims Stock Position in Watsco, Inc. (NYSE:WSO)

AIA Group Ltd cut its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 37.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,979 shares of the construction company's stock after selling 2,968 shares during the quarter. AIA Group Ltd's holdings in Watsco were worth $2,359,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new stake in Watsco during the fourth quarter valued at about $31,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Watsco in the 4th quarter valued at about $36,000. Quarry LP grew its position in shares of Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company's stock worth $44,000 after buying an additional 33 shares during the last quarter. Atala Financial Inc bought a new position in shares of Watsco during the 4th quarter worth approximately $49,000. Finally, Golden State Wealth Management LLC purchased a new stake in Watsco during the fourth quarter valued at approximately $50,000. 89.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Loop Capital increased their price objective on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a report on Thursday, February 27th. Raymond James assumed coverage on Watsco in a research note on Friday, January 17th. They issued a "market perform" rating for the company. Finally, Robert W. Baird boosted their price target on Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Watsco currently has an average rating of "Hold" and a consensus price target of $486.25.

Watsco Stock Performance

Shares of NYSE WSO traded down $14.74 during mid-day trading on Friday, hitting $477.78. The stock had a trading volume of 399,342 shares, compared to its average volume of 253,380. The firm has a market cap of $19.30 billion, a PE ratio of 36.06 and a beta of 1.00. The company has a 50 day moving average of $496.34 and a two-hundred day moving average of $499.34. Watsco, Inc. has a twelve month low of $396.82 and a twelve month high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates of $2.13 by $0.24. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. Equities research analysts predict that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.51%. This is a boost from Watsco's previous quarterly dividend of $2.70. The ex-dividend date of this dividend is Tuesday, April 15th. Watsco's payout ratio is presently 81.51%.

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.