Handelsinvest Investeringsforvaltning cut its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 89.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,431 shares of the construction company's stock after selling 12,569 shares during the quarter. Handelsinvest Investeringsforvaltning's holdings in Watsco were worth $613,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of WSO. Hamlin Capital Management LLC lifted its stake in shares of Watsco by 5.7% in the 4th quarter. Hamlin Capital Management LLC now owns 295,833 shares of the construction company's stock valued at $126,756,000 after purchasing an additional 16,006 shares during the period. Wellington Management Group LLP lifted its stake in shares of Watsco by 2.6% in the 3rd quarter. Wellington Management Group LLP now owns 648,662 shares of the construction company's stock valued at $245,013,000 after purchasing an additional 16,589 shares during the period. Portside Wealth Group LLC lifted its stake in shares of Watsco by 1.9% in the 3rd quarter. Portside Wealth Group LLC now owns 3,342 shares of the construction company's stock valued at $1,265,000 after purchasing an additional 63 shares during the period. Nordea Investment Management AB lifted its stake in shares of Watsco by 1.9% in the 3rd quarter. Nordea Investment Management AB now owns 120,564 shares of the construction company's stock valued at $46,137,000 after purchasing an additional 2,295 shares during the period. Finally, Marsico Capital Management LLC lifted its stake in shares of Watsco by 168.4% in the 3rd quarter. Marsico Capital Management LLC now owns 20,718 shares of the construction company's stock valued at $7,826,000 after purchasing an additional 12,998 shares during the period. 89.49% of the stock is owned by institutional investors and hedge funds.
Watsco Stock Performance
Shares of WSO stock traded up $8.62 during trading on Wednesday, hitting $423.35. The company's stock had a trading volume of 231,188 shares, compared to its average volume of 360,731. The company has a market cap of $16.72 billion, a PE ratio of 30.99, a P/E/G ratio of 3.13 and a beta of 0.89. 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 business has a fifty day moving average of $396.53 and a 200-day moving average of $388.11. Watsco, Inc. has a 52 week low of $290.74 and a 52 week high of $433.19.
Watsco (NYSE:WSO - Get Free Report) last released its 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). The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.65 billion. Watsco had a net margin of 7.36% and a return on equity of 21.36%. The business's revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.35 earnings per share. As a group, research analysts anticipate that Watsco, Inc. will post 14.5 earnings per share for the current year.
Watsco Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Wednesday, January 17th were paid a $2.45 dividend. The ex-dividend date of this dividend was Tuesday, January 16th. This represents a $9.80 annualized dividend and a yield of 2.31%. Watsco's payout ratio is 71.74%.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on WSO shares. Deutsche Bank Aktiengesellschaft raised Watsco from a "hold" rating to a "buy" rating and boosted their price objective for the company from $387.00 to $500.00 in a research note on Friday, December 8th. Stephens boosted their target price on Watsco from $450.00 to $500.00 and gave the company an "overweight" rating in a research report on Monday, December 11th. Finally, Robert W. Baird boosted their target price on Watsco from $400.00 to $410.00 and gave the company an "outperform" rating in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $396.00.
Check Out Our Latest Stock Report on WSO
About Watsco
(Free Report)
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.
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