Handelsinvest Investeringsforvaltning Has $407,000 Stock Holdings in Watsco, Inc. (NYSE:WSO)

Handelsinvest Investeringsforvaltning trimmed its holdings in shares of Watsco, Inc. (NYSE:WSO) by 34.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 942 shares of the construction company’s stock after selling 489 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Watsco were worth $407,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Hartford Financial Management Inc. increased its stake in Watsco by 53.1% during the 4th quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock worth $32,000 after purchasing an additional 26 shares in the last quarter. Raleigh Capital Management Inc. grew its stake in shares of Watsco by 35.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company’s stock worth $41,000 after acquiring an additional 28 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of Watsco by 53.8% during the 4th quarter. Lindbrook Capital LLC now owns 80 shares of the construction company’s stock worth $34,000 after acquiring an additional 28 shares in the last quarter. Lincoln National Corp grew its stake in shares of Watsco by 4.0% during the 4th quarter. Lincoln National Corp now owns 728 shares of the construction company’s stock worth $312,000 after acquiring an additional 28 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Watsco by 44.1% during the 4th quarter. Allworth Financial LP now owns 98 shares of the construction company’s stock worth $42,000 after acquiring an additional 30 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Watsco Stock Up 1.1 %

WSO opened at $481.11 on Thursday. The company has a market capitalization of $19.39 billion, a P/E ratio of 37.01 and a beta of 0.88. The stock has a fifty day moving average of $472.11 and a 200-day moving average of $430.86. Watsco, Inc. has a fifty-two week low of $337.58 and a fifty-two week high of $493.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.92.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). Watsco had a net margin of 7.03% and a return on equity of 19.26%. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the firm earned $2.83 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts expect that Watsco, Inc. will post 14.26 EPS for the current year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th will be issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Tuesday, July 16th. Watsco’s dividend payout ratio (DPR) is currently 83.08%.

Insider Buying and Selling

In other news, EVP Barry S. Logan sold 774 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $473.85, for a total transaction of $366,759.90. Following the completion of the sale, the executive vice president now directly owns 1,770 shares of the company’s stock, valued at approximately $838,714.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Watsco news, EVP Barry S. Logan sold 774 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $473.85, for a total value of $366,759.90. Following the completion of the transaction, the executive vice president now owns 1,770 shares in the company, valued at approximately $838,714.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Alexander Macdonald sold 5,334 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $466.41, for a total value of $2,487,830.94. The disclosure for this sale can be found here. 12.86% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WSO. Robert W. Baird raised their target price on shares of Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Stephens reissued an “overweight” rating and issued a $500.00 target price on shares of Watsco in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $404.25.

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.