Watsco, Inc. (NYSE:WSO) Stock Holdings Lessened by AIA Group Ltd

AIA Group Ltd lessened its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 31.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,947 shares of the construction company's stock after selling 3,611 shares during the quarter. AIA Group Ltd's holdings in Watsco were worth $3,909,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in Watsco by 256.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,374 shares of the construction company's stock worth $1,510,000 after purchasing an additional 2,427 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Watsco during the first quarter worth approximately $491,000. Gateway Investment Advisers LLC purchased a new stake in Watsco in the 2nd quarter worth approximately $2,109,000. Vanguard Group Inc. raised its holdings in Watsco by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company's stock valued at $1,473,836,000 after acquiring an additional 146,305 shares during the last quarter. Finally, William Blair Investment Management LLC raised its holdings in Watsco by 6.2% in the 1st quarter. William Blair Investment Management LLC now owns 66,966 shares of the construction company's stock valued at $28,927,000 after acquiring an additional 3,881 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WSO. JPMorgan Chase & Co. increased their target price on Watsco from $420.00 to $425.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Robert W. Baird cut their price objective on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th.

Watsco Price Performance

NYSE WSO traded up $3.53 during trading hours on Friday, hitting $528.50. The company had a trading volume of 208,300 shares, compared to its average volume of 285,955. The firm's 50 day moving average is $483.89 and its 200 day moving average is $478.12. The company has a market capitalization of $21.34 billion, a price-to-earnings ratio of 40.57 and a beta of 0.88. Watsco, Inc. has a fifty-two week low of $368.77 and a fifty-two week high of $533.53.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The business's revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $4.35 earnings per share. On average, equities analysts anticipate that Watsco, Inc. will post 13.2 EPS for the current year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco's dividend payout ratio is currently 83.46%.

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.