Skandinaviska Enskilda Banken AB publ Lowers Stock Holdings in Watsco, Inc. (NYSE:WSO)

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of Watsco, Inc. (NYSE:WSO) by 3.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,549 shares of the construction company’s stock after selling 254 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Watsco were worth $3,584,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in WSO. Rialto Wealth Management LLC purchased a new position in shares of Watsco during the fourth quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Watsco during the fourth quarter valued at approximately $36,000. Quarry LP lifted its holdings in shares of Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after purchasing an additional 33 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Watsco during the third quarter valued at approximately $48,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Watsco during the fourth quarter valued at approximately $50,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.86% of the stock is currently owned by insiders.

Watsco Trading Up 3.4 %

NYSE:WSO opened at $508.47 on Monday. Watsco, Inc. has a 12 month low of $396.82 and a 12 month high of $571.42. The company has a market cap of $20.54 billion, a PE ratio of 38.38 and a beta of 0.92. The company has a 50 day simple moving average of $489.58 and a two-hundred day simple moving average of $495.31.

Watsco (NYSE:WSO) last posted its earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. Research analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is presently 81.51%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Robert W. Baird raised their price target on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Raymond James assumed coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Loop Capital raised their price target on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research report on Thursday, February 27th. Finally, Northcoast Research assumed coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $486.25.

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.