AIA Group Ltd Sells 2,519 Shares of Watsco, Inc. (NYSE:WSO)

AIA Group Ltd decreased its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 17.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,817 shares of the construction company's stock after selling 2,519 shares during the quarter. AIA Group Ltd's holdings in Watsco were worth $5,063,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. bought a new stake in shares of Watsco in the 4th quarter valued at about $26,000. Rise Advisors LLC bought a new stake in Watsco in the fourth quarter valued at approximately $30,000. BKM Wealth Management LLC bought a new stake in Watsco in the fourth quarter valued at approximately $32,000. Hartford Financial Management Inc. boosted its stake in shares of Watsco by 53.1% during the 4th quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company's stock worth $32,000 after acquiring an additional 26 shares during the period. Finally, Allworth Financial LP boosted its stake in shares of Watsco by 44.1% during the 4th quarter. Allworth Financial LP now owns 98 shares of the construction company's stock worth $42,000 after acquiring an additional 30 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Price Performance

Shares of WSO traded down $2.10 during midday trading on Thursday, hitting $401.84. The company's stock had a trading volume of 219,779 shares, compared to its average volume of 337,285. The stock has a market capitalization of $15.87 billion, a price-to-earnings ratio of 29.42 and a beta of 0.90. Watsco, Inc. has a one year low of $314.87 and a one year high of $447.49. The company's fifty day simple moving average is $408.99 and its two-hundred day simple moving average is $398.05. The company has a quick ratio of 1.47, a current ratio of 3.36 and a debt-to-equity ratio of 0.01.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The construction company reported $2.06 EPS for the quarter, missing analysts' consensus estimates of $2.50 by ($0.44). Watsco had a return on equity of 21.36% and a net margin of 7.36%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the firm earned $2.35 earnings per share. Watsco's revenue was up 1.4% compared to the same quarter last year. As a group, equities analysts expect that Watsco, Inc. will post 14.19 earnings per share for the current fiscal year.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a dividend of $2.70 per share. This is an increase from Watsco's previous quarterly dividend of $2.45. This represents a $10.80 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, April 12th. Watsco's dividend payout ratio (DPR) is presently 79.06%.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird boosted their price target on Watsco from $400.00 to $410.00 and gave the company an "outperform" rating in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $396.00.

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.