Avanza Fonder AB Takes Position in Watsco, Inc. (NYSE:WSO)

Avanza Fonder AB bought a new position in shares of Watsco, Inc. (NYSE:WSO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,913 shares of the construction company's stock, valued at approximately $1,854,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. American Century Companies Inc. increased its holdings in Watsco by 3.9% in the second quarter. American Century Companies Inc. now owns 13,733 shares of the construction company's stock worth $6,362,000 after purchasing an additional 513 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of Watsco by 22.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,499 shares of the construction company's stock valued at $1,621,000 after acquiring an additional 648 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Watsco by 495.1% during the 2nd quarter. Intech Investment Management LLC now owns 10,730 shares of the construction company's stock valued at $4,971,000 after acquiring an additional 8,927 shares during the period. Bridges Investment Management Inc. acquired a new stake in Watsco in the second quarter worth $874,000. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in Watsco by 2.8% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 7,445 shares of the construction company's stock valued at $3,449,000 after purchasing an additional 200 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Price Performance

Shares of NYSE WSO traded up $5.82 during mid-day trading on Friday, reaching $496.92. 204,978 shares of the company's stock were exchanged, compared to its average volume of 201,972. The firm has a 50-day moving average price of $508.48 and a two-hundred day moving average price of $492.50. The firm has a market capitalization of $20.07 billion, a price-to-earnings ratio of 38.40 and a beta of 0.95. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last released its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing analysts' consensus estimates of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the company earned $4.35 earnings per share. The firm's revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that Watsco, Inc. will post 12.97 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a dividend of $2.70 per share. The ex-dividend date is Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.17%. Watsco's payout ratio is presently 83.46%.

Analyst Ratings Changes

Several analysts have recently commented on WSO shares. Northcoast Research initiated coverage on Watsco in a research note on Friday, November 22nd. They issued a "neutral" rating for the company. Raymond James initiated coverage on Watsco in a research note on Friday. They issued a "market perform" rating for the company. Finally, Robert W. Baird lowered their target price on Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Watsco presently has an average rating of "Hold" and a consensus target price of $488.33.

Insider Transactions at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 12.86% of the stock is currently owned by insiders.

Watsco Company 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.