Watsco, Inc. (NYSE:WSO) Shares Sold by Forsta AP Fonden

Forsta AP Fonden reduced its stake in shares of Watsco, Inc. (NYSE:WSO) by 17.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,100 shares of the construction company’s stock after selling 1,500 shares during the quarter. Forsta AP Fonden’s holdings in Watsco were worth $3,289,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WSO. Vanguard Group Inc. increased its position in shares of Watsco by 4.5% during the first quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock worth $1,473,836,000 after purchasing an additional 146,305 shares in the last quarter. Blair William & Co. IL lifted its stake in Watsco by 2.1% in the first quarter. Blair William & Co. IL now owns 792,011 shares of the construction company’s stock valued at $342,125,000 after buying an additional 16,487 shares during the last quarter. Markel Group Inc. boosted its holdings in shares of Watsco by 0.9% in the second quarter. Markel Group Inc. now owns 571,250 shares of the construction company’s stock valued at $264,626,000 after acquiring an additional 5,000 shares during the period. Bank of New York Mellon Corp grew its position in shares of Watsco by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 393,032 shares of the construction company’s stock worth $182,068,000 after acquiring an additional 6,320 shares during the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of Watsco by 4.8% in the 4th quarter. Baird Financial Group Inc. now owns 340,023 shares of the construction company’s stock valued at $145,690,000 after acquiring an additional 15,552 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Up 1.2 %

Shares of NYSE:WSO opened at $476.71 on Monday. Watsco, Inc. has a fifty-two week low of $338.58 and a fifty-two week high of $520.41. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $478.11 and its 200-day simple moving average is $458.65. The company has a market cap of $19.23 billion, a price-to-earnings ratio of 36.67 and a beta of 0.88.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $4.49 earnings per share for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). Watsco had a net margin of 7.02% and a return on equity of 18.55%. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the firm posted $4.42 EPS. Watsco’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities research analysts predict that Watsco, Inc. will post 13.83 earnings per share for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th were paid a dividend of $2.70 per share. The ex-dividend date was Tuesday, July 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.27%. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WSO shares. JPMorgan Chase & Co. increased their price target on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird raised their price target on Watsco from $460.00 to $522.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $433.71.

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.