Watsco, Inc. (NYSE:WSO) Stock Position Lessened by Nordea Investment Management AB

Nordea Investment Management AB cut its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 9.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 46,639 shares of the construction company's stock after selling 5,042 shares during the period. Nordea Investment Management AB owned approximately 0.12% of Watsco worth $22,199,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC lifted its position in shares of Watsco by 10.6% during the third quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock worth $1,782,651,000 after purchasing an additional 346,470 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Watsco by 48,984.7% in the 3rd quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company's stock worth $114,924,000 after buying an additional 233,167 shares in the last quarter. Benjamin Edwards Inc. boosted its position in Watsco by 2,128.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company's stock valued at $52,880,000 after buying an additional 102,640 shares during the last quarter. State Street Corp grew its stake in shares of Watsco by 5.9% during the third quarter. State Street Corp now owns 1,173,762 shares of the construction company's stock valued at $577,350,000 after acquiring an additional 65,846 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Watsco by 9.9% during the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company's stock worth $345,783,000 after acquiring an additional 63,254 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company's stock.

Watsco Stock Up 0.2 %

Shares of WSO traded up $0.86 during mid-day trading on Thursday, hitting $466.22. The stock had a trading volume of 214,491 shares, compared to its average volume of 286,778. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The company has a market cap of $18.83 billion, a PE ratio of 36.03 and a beta of 0.95. The company's fifty day simple moving average is $510.87 and its two-hundred day simple moving average is $491.76.

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 the consensus estimate of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the firm earned $4.35 EPS. The firm's revenue for the quarter was up 1.6% on a year-over-year basis. Equities analysts expect that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Friday, January 17th. Watsco's payout ratio is 83.46%.

Wall Street Analyst Weigh In

Several research firms have issued reports on WSO. Northcoast Research began coverage on Watsco in a report on Friday, November 22nd. They set a "neutral" rating on the stock. Robert W. Baird dropped their price target on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th.

Insider Buying and Selling

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the company's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.86% of the company's stock.

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.