Watsco, Inc. (NYSE:WSO) Shares Sold by Swedbank AB

Swedbank AB cut its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 40.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,831 shares of the construction company's stock after selling 69,956 shares during the period. Swedbank AB owned 0.26% of Watsco worth $49,204,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of WSO. FMR LLC boosted its holdings in Watsco by 10.6% in the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock valued at $1,782,651,000 after purchasing an additional 346,470 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Watsco by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company's stock worth $616,357,000 after acquiring an additional 62,041 shares during the period. State Street Corp raised its position in Watsco by 5.9% in the third quarter. State Street Corp now owns 1,173,762 shares of the construction company's stock worth $577,350,000 after acquiring an additional 65,846 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Watsco by 9.9% in the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company's stock valued at $345,783,000 after acquiring an additional 63,254 shares during the period. Finally, Markel Group Inc. boosted its position in shares of Watsco by 2.0% during the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company's stock worth $286,520,000 after purchasing an additional 11,250 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Raymond James assumed coverage on Watsco in a report on Friday, January 17th. They issued a "market perform" rating on the stock. Northcoast Research began coverage on shares of Watsco in a research report on Friday, November 22nd. They set a "neutral" rating for the company. Finally, Robert W. Baird lowered their price target on shares of 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 stock. Based on data from MarketBeat.com, Watsco currently has an average rating of "Hold" and a consensus price target of $488.33.

Insider Activity at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the business'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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.86% of the stock is currently owned by corporate insiders.

Watsco Stock Performance

Shares of WSO stock traded up $2.31 on Thursday, hitting $484.13. The stock had a trading volume of 34,411 shares, compared to its average volume of 207,280. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41. The firm has a market capitalization of $19.55 billion, a price-to-earnings ratio of 37.37 and a beta of 0.95. The stock's 50 day moving average is $502.60 and its 200-day moving average is $493.05.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $2.70 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.23%. Watsco's dividend payout ratio (DPR) is presently 83.46%.

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.