Handelsbanken Fonder AB Has $62.75 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

Handelsbanken Fonder AB increased its position in Watsco, Inc. (NYSE:WSO - Free Report) by 0.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 123,458 shares of the construction company's stock after purchasing an additional 1,000 shares during the period. Handelsbanken Fonder AB owned 0.31% of Watsco worth $62,754,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WSO. Avidian Wealth Enterprises LLC grew its position in Watsco by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company's stock valued at $567,000 after buying an additional 21 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Watsco by 1.4% in the 4th quarter. M&T Bank Corp now owns 1,686 shares of the construction company's stock worth $799,000 after acquiring an additional 23 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Watsco by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company's stock valued at $3,645,000 after acquiring an additional 23 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Watsco by 1.2% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,949 shares of the construction company's stock valued at $924,000 after acquiring an additional 23 shares during the period. Finally, Principal Securities Inc. raised its holdings in Watsco by 6.9% during the fourth quarter. Principal Securities Inc. now owns 373 shares of the construction company's stock worth $177,000 after purchasing an additional 24 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Watsco Trading Down 2.7%

Shares of NYSE WSO traded down $11.86 during mid-day trading on Friday, reaching $431.27. The company had a trading volume of 235,983 shares, compared to its average volume of 256,503. The company has a 50-day moving average price of $469.10 and a two-hundred day moving average price of $487.28. The stock has a market cap of $17.47 billion, a PE ratio of 32.55 and a beta of 1.06. Watsco, Inc. has a 1-year low of $430.20 and a 1-year high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share for the quarter, missing analysts' consensus estimates of $2.29 by ($0.36). Watsco had a return on equity of 17.59% and a net margin of 7.04%. The company had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.66 billion. During the same period in the prior year, the business posted $2.17 EPS. The company's revenue for the quarter was down 2.2% compared to the same quarter last year. On average, research analysts expect that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were issued a dividend of $3.00 per share. The ex-dividend date was Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.78%. This is a positive change from Watsco's previous quarterly dividend of $2.70. Watsco's payout ratio is currently 92.24%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on WSO shares. Wall Street Zen upgraded Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. raised their target price on Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. Loop Capital boosted their price target on shares of Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research report on Thursday, February 27th. Robert W. Baird cut their price target on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, UBS Group lowered their price objective on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Watsco presently has a consensus rating of "Hold" and an average target price of $486.67.

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.