Andra AP fonden Decreases Stake in Watsco, Inc. (NYSE:WSO)

Andra AP fonden lowered its position in shares of Watsco, Inc. (NYSE:WSO) by 83.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,800 shares of the construction company’s stock after selling 14,500 shares during the quarter. Andra AP fonden’s holdings in Watsco were worth $1,297,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank bought a new stake in Watsco during the fourth quarter worth $102,958,000. Motley Fool Asset Management LLC raised its stake in shares of Watsco by 263.6% during the 1st quarter. Motley Fool Asset Management LLC now owns 320,008 shares of the construction company’s stock worth $138,234,000 after purchasing an additional 231,987 shares during the period. Swedbank AB purchased a new position in shares of Watsco in the 1st quarter worth about $90,714,000. Vanguard Group Inc. grew its position in Watsco by 4.5% during the first quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock valued at $1,473,836,000 after buying an additional 146,305 shares during the period. Finally, Jennison Associates LLC increased its holdings in Watsco by 50.9% during the first quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock worth $80,188,000 after buying an additional 62,593 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Up 2.1 %

WSO opened at $471.25 on Friday. The company has a 50 day moving average of $478.21 and a 200 day moving average of $457.08. The company has a current ratio of 3.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 12 month low of $338.58 and a 12 month high of $520.41. The company has a market cap of $18.99 billion, a PE ratio of 36.25 and a beta of 0.88.

Watsco (NYSE:WSO) last posted its quarterly earnings results 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 company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the business earned $4.42 earnings per share. Watsco’s revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts expect that Watsco, Inc. will post 13.83 EPS for the current year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.29%. The ex-dividend date was Tuesday, July 16th. Watsco’s payout ratio is 83.08%.

Wall Street Analysts Forecast Growth

WSO has been the topic of a number of research analyst reports. Robert W. Baird boosted their target price on shares of Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $433.71.

Watsco 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.