Swedbank AB Has $34.71 Million Stock Position in Watsco, Inc. $WSO

Key Points

• Swedbank AB increased its holdings in Watsco, Inc. by 3.8%, now owning 78,585 shares valued at approximately $34.7 million.
• Watsco reported a disappointing earnings per share (EPS) of $4.52, missing the analyst consensus estimate of $4.84, with a revenue of $2.06 billion for the quarter.
• The company announced a quarterly dividend of $3.00, representing an annualized yield of 3.1%, with a payout ratio of 92.02%.

Swedbank AB boosted its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 3.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,585 shares of the construction company's stock after buying an additional 2,854 shares during the period. Swedbank AB owned 0.19% of Watsco worth $34,705,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WSO. ProShare Advisors LLC grew its position in Watsco by 7.4% in the 4th quarter. ProShare Advisors LLC now owns 1,629 shares of the construction company's stock valued at $772,000 after buying an additional 112 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Watsco by 6.9% during the 4th quarter. Toronto Dominion Bank now owns 4,552 shares of the construction company's stock valued at $2,157,000 after purchasing an additional 294 shares in the last quarter. Vident Advisory LLC boosted its position in shares of Watsco by 12.7% during the 4th quarter. Vident Advisory LLC now owns 1,495 shares of the construction company's stock valued at $709,000 after purchasing an additional 169 shares in the last quarter. Voloridge Investment Management LLC boosted its position in shares of Watsco by 12.6% during the 4th quarter. Voloridge Investment Management LLC now owns 9,576 shares of the construction company's stock valued at $4,538,000 after purchasing an additional 1,074 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Watsco by 9.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 130,379 shares of the construction company's stock valued at $61,785,000 after purchasing an additional 11,519 shares in the last quarter. Institutional investors own 89.71% of the company's stock.

Watsco Stock Performance

Shares of WSO stock traded up $0.53 during trading on Monday, hitting $390.38. 811,460 shares of the company were exchanged, compared to its average volume of 319,617. The firm has a market capitalization of $15.83 billion, a price-to-earnings ratio of 29.79 and a beta of 0.96. The business's 50-day simple moving average is $425.83 and its 200 day simple moving average is $455.99. Watsco, Inc. has a twelve month low of $378.35 and a twelve month high of $571.41.

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

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Wednesday, July 16th were paid a $3.00 dividend. The ex-dividend date was Wednesday, July 16th. This represents a $12.00 dividend on an annualized basis and a yield of 3.1%. Watsco's payout ratio is 92.02%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WSO shares. Morgan Stanley set a $505.00 price objective on shares of Watsco in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. raised their target price on shares of Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. Finally, UBS Group decreased their target price on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a report on Wednesday, June 25th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Watsco currently has a consensus rating of "Hold" and an average target price of $484.17.

Watsco Company 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.