Swedbank AB Buys 2,854 Shares of 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 grew its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 3.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,585 shares of the construction company's stock after purchasing an additional 2,854 shares during the quarter. Swedbank AB owned about 0.19% of Watsco worth $34,705,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Manitou Investment Management Ltd. bought a new position in Watsco during the first quarter worth about $25,000. Opal Wealth Advisors LLC bought a new position in shares of Watsco in the first quarter valued at approximately $25,000. WPG Advisers LLC bought a new position in shares of Watsco in the first quarter valued at approximately $25,000. TCTC Holdings LLC boosted its position in shares of Watsco by 115.4% in the first quarter. TCTC Holdings LLC now owns 56 shares of the construction company's stock valued at $28,000 after acquiring an additional 30 shares during the period. Finally, City Holding Co. bought a new position in shares of Watsco in the first quarter valued at approximately $29,000. Institutional investors own 89.71% of the company's stock.

Watsco Trading Down 0.2%

Shares of WSO stock traded down $0.80 during trading hours on Tuesday, hitting $390.66. 37,895 shares of the company's stock were exchanged, compared to its average volume of 319,442. The company has a market capitalization of $15.84 billion, a PE ratio of 30.00 and a beta of 0.96. Watsco, Inc. has a 12-month low of $378.35 and a 12-month high of $571.41. The business's 50 day simple moving average is $424.22 and its 200-day simple moving average is $455.13.

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 business had revenue of $2.06 billion for the quarter, compared to analysts' expectations of $2.24 billion. Watsco had a return on equity of 16.96% and a net margin of 7.08%.The company's revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $4.49 earnings per share. Equities analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th were issued a $3.00 dividend. The ex-dividend date was Wednesday, July 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.1%. Watsco's dividend payout ratio (DPR) is currently 92.02%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. 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 price objective on shares of Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. Finally, UBS Group lowered their target price on shares of Watsco from $450.00 to $425.00 and set a "neutral" rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $480.00.

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.