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

Handelsbanken Fonder AB lowered its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,458 shares of the construction company's stock after selling 5,100 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.30% of Watsco worth $58,032,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of WSO. Wingate Wealth Advisors Inc. purchased a new position in Watsco in the 4th quarter worth about $36,000. Ashton Thomas Securities LLC purchased a new position in Watsco in the 3rd quarter worth about $43,000. Quarry LP increased its stake in Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company's stock worth $44,000 after purchasing an additional 33 shares in the last quarter. Brooklyn Investment Group purchased a new position in Watsco in the 3rd quarter worth about $48,000. Finally, Golden State Wealth Management LLC purchased a new position in Watsco in the 4th quarter worth about $50,000. Hedge funds and other institutional investors own 89.71% of the company's stock.

Wall Street Analysts Forecast Growth

WSO has been the topic of several research analyst reports. Raymond James initiated coverage on Watsco in a research note on Friday, January 17th. They set a "market perform" rating on the stock. Northcoast Research initiated coverage on Watsco in a research note on Friday, November 22nd. They set a "neutral" rating on the stock. Finally, Robert W. Baird lifted their target price on Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $495.00.

Insider Activity at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the business'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 value of $5,589,293.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.86% of the stock is currently owned by company insiders.

Watsco Trading Down 3.3 %

NYSE:WSO traded down $17.09 on Friday, hitting $498.12. 286,029 shares of the company's stock traded hands, compared to its average volume of 248,613. The company has a market cap of $20.11 billion, a PE ratio of 37.59 and a beta of 0.95. The firm has a 50-day moving average price of $484.75 and a 200-day moving average price of $492.16. Watsco, Inc. has a 1 year low of $380.58 and a 1 year high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 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 analysts' expectations of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. On average, research analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.17%. Watsco's payout ratio is 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.