Handelsbanken Fonder AB Acquires 30,000 Shares of Watsco, Inc. (NYSE:WSO)

Handelsbanken Fonder AB grew its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 25.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 146,458 shares of the construction company's stock after buying an additional 30,000 shares during the period. Handelsbanken Fonder AB owned approximately 0.37% of Watsco worth $62,753,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Hartford Financial Management Inc. lifted its position 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 purchasing an additional 26 shares during the last quarter. Advisor OS LLC lifted its position in shares of Watsco by 1.1% during the 3rd quarter. Advisor OS LLC now owns 2,693 shares of the construction company's stock worth $1,017,000 after purchasing an additional 28 shares during the last quarter. Raleigh Capital Management Inc. lifted its position in shares of Watsco by 35.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company's stock worth $41,000 after purchasing an additional 28 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of Watsco by 53.8% during the 4th quarter. Lindbrook Capital LLC now owns 80 shares of the construction company's stock worth $34,000 after purchasing an additional 28 shares during the last quarter. Finally, Allworth Financial LP lifted its position 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 purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

Wall Street Analyst Weigh In

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

Watsco Stock Performance

WSO traded down $5.01 on Friday, hitting $396.92. 343,458 shares of the stock traded hands, compared to its average volume of 254,294. Watsco, Inc. has a 52 week low of $315.17 and a 52 week high of $447.49. The company has a current ratio of 3.36, a quick ratio of 1.47 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $15.68 billion, a PE ratio of 29.06 and a beta of 0.90. The business has a fifty day moving average price of $408.62 and a two-hundred day moving average price of $398.50.

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

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be paid a $2.70 dividend. This is a positive change from Watsco's previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, April 12th. Watsco's dividend payout ratio is currently 79.06%.

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.