KBC Group NV Sells 460 Shares of Watsco, Inc. (NYSE:WSO)

KBC Group NV lessened its stake in shares of Watsco, Inc. (NYSE:WSO) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,865 shares of the construction company’s stock after selling 460 shares during the period. KBC Group NV’s holdings in Watsco were worth $2,885,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its holdings in shares of Watsco by 1.9% during the first quarter. Russell Investments Group Ltd. now owns 16,773 shares of the construction company’s stock valued at $7,246,000 after acquiring an additional 320 shares in the last quarter. Intech Investment Management LLC raised its holdings in Watsco by 7.1% in the first quarter. Intech Investment Management LLC now owns 1,803 shares of the construction company’s stock worth $779,000 after buying an additional 120 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Watsco by 4.5% in the first quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock worth $1,473,836,000 after buying an additional 146,305 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Watsco by 32.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 1,633 shares of the construction company’s stock valued at $705,000 after buying an additional 401 shares during the last quarter. Finally, UniSuper Management Pty Ltd increased its position in shares of Watsco by 66.7% during the first quarter. UniSuper Management Pty Ltd now owns 500 shares of the construction company’s stock valued at $216,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

Shares of WSO opened at $520.74 on Monday. The firm has a market capitalization of $21.03 billion, a P/E ratio of 40.24 and a beta of 0.88. Watsco, Inc. has a one year low of $373.33 and a one year high of $545.49. The business has a fifty day moving average of $492.47 and a 200 day moving average of $482.70.

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm earned $4.35 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Analysts expect that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a $2.70 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 2.07%. Watsco’s payout ratio is presently 83.46%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WSO. Robert W. Baird lowered their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st.

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.