Watsco, Inc. $WSO Holdings Reduced by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 15.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,819 shares of the construction company's stock after selling 900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Watsco were worth $2,449,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Manitou Investment Management Ltd. bought a new stake in Watsco during the first quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Watsco in the 1st quarter valued at approximately $25,000. TCTC Holdings LLC boosted its stake in Watsco by 115.4% in the 1st quarter. TCTC Holdings LLC now owns 56 shares of the construction company's stock worth $28,000 after purchasing an additional 30 shares during the period. City Holding Co. acquired a new position in Watsco in the 1st quarter worth approximately $29,000. Finally, Rossby Financial LCC acquired a new position in Watsco in the 1st quarter worth approximately $33,000. 89.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WSO has been the subject of a number of recent analyst reports. UBS Group decreased their price objective on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a research note on Wednesday, June 25th. JPMorgan Chase & Co. raised their price objective on shares of Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 27th. Mizuho set a $490.00 price objective on shares of Watsco in a research note on Thursday, April 24th. Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Finally, Morgan Stanley set a $505.00 price objective on shares of Watsco in a research note on Wednesday, July 2nd. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $484.17.

Watsco Trading Down 1.8%

Watsco stock opened at $414.21 on Monday. The company has a market capitalization of $16.80 billion, a P/E ratio of 31.76 and a beta of 0.95. The firm's fifty day simple moving average is $447.06 and its 200-day simple moving average is $471.35. Watsco, Inc. has a 1-year low of $403.01 and a 1-year high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The construction company reported $4.52 earnings per share for the quarter, missing analysts' consensus estimates of $4.84 by ($0.32). The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a net margin of 7.08% and a return on equity of 16.96%. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.49 EPS. On average, equities research analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th were issued a dividend of $3.00 per share. The ex-dividend date was Wednesday, July 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.9%. Watsco's dividend payout ratio (DPR) is currently 92.02%.

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.

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