Handelsbanken Fonder AB Acquires 1,000 Shares of Watsco, Inc. (NYSE:WSO)

Handelsbanken Fonder AB increased its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 0.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Watsco by 89,376.0% during the 1st quarter. GAMMA Investing LLC now owns 477,802 shares of the construction company's stock valued at $242,867,000 after purchasing an additional 477,268 shares during the last quarter. Norges Bank purchased a new position in Watsco in the fourth quarter valued at about $118,312,000. Lord Abbett & CO. LLC purchased a new position in Watsco in the fourth quarter worth $104,533,000. Proficio Capital Partners LLC purchased a new stake in shares of Watsco during the fourth quarter worth about $63,603,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Watsco by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company's stock worth $649,957,000 after buying an additional 118,713 shares during the period. Hedge funds and other institutional investors own 89.71% of the company's stock.

Watsco Stock Performance

Shares of WSO traded down $5.51 during mid-day trading on Friday, reaching $437.62. 59,435 shares of the company's stock traded hands, compared to its average volume of 255,372. The business's 50-day moving average price is $469.69 and its 200-day moving average price is $488.10. The stock has a market capitalization of $17.73 billion, a P/E ratio of 33.04 and a beta of 1.06. Watsco, Inc. has a 12 month low of $430.20 and a 12 month high of $571.42.

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

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were paid a dividend of $3.00 per share. This is a boost from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Tuesday, April 15th. Watsco's dividend payout ratio is 92.24%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WSO shares. Mizuho set a $490.00 price objective on shares of Watsco in a research report on Thursday, April 24th. JPMorgan Chase & Co. increased their target price on Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, May 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. Loop Capital raised their target price on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research report on Thursday, February 27th. Finally, Morgan Stanley began coverage on shares of Watsco in a report on Monday, April 14th. They issued an "equal weight" rating and a $515.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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.