Watsco, Inc. (NYSE:WSO) Position Lifted by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ raised its stake in Watsco, Inc. (NYSE:WSO) by 2.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 7,445 shares of the construction company’s stock after purchasing an additional 200 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Watsco were worth $3,449,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. EntryPoint Capital LLC increased its stake in Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after purchasing an additional 29 shares during the last quarter. First PREMIER Bank bought a new stake in shares of Watsco during the 1st quarter valued at about $25,000. ORG Partners LLC acquired a new stake in Watsco during the first quarter worth about $31,000. Tortoise Investment Management LLC lifted its holdings in Watsco by 76.2% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after acquiring an additional 32 shares during the last quarter. Finally, Salomon & Ludwin LLC lifted its holdings in Watsco by 52.6% in the first quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock worth $38,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on WSO shares. Robert W. Baird boosted their price objective on Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $469.80.

Watsco Trading Down 2.1 %

Watsco stock opened at $489.61 on Monday. Watsco, Inc. has a 12-month low of $338.58 and a 12-month high of $520.41. The stock has a market capitalization of $19.73 billion, a PE ratio of 37.66 and a beta of 0.88. The firm has a 50 day simple moving average of $478.69 and a 200-day simple moving average of $462.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.55.

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

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th were given a dividend of $2.70 per share. The ex-dividend date was Tuesday, July 16th. This represents a $10.80 annualized dividend and a dividend yield of 2.21%. Watsco’s dividend payout ratio (DPR) is 83.08%.

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.