Skandinaviska Enskilda Banken AB publ Sells 254 Shares of Watsco, Inc. (NYSE:WSO)

Skandinaviska Enskilda Banken AB publ lessened its position in Watsco, Inc. (NYSE:WSO) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,549 shares of the construction company’s stock after selling 254 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Watsco were worth $3,584,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new position in Watsco in the fourth quarter valued at $31,000. Wingate Wealth Advisors Inc. bought a new position in shares of Watsco during the fourth quarter valued at about $36,000. Quarry LP grew its stake 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 buying an additional 33 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Watsco during the third quarter valued at about $48,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Watsco during the fourth quarter valued at about $50,000. Institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

NYSE WSO opened at $508.47 on Monday. The stock has a market capitalization of $20.54 billion, a PE ratio of 38.38 and a beta of 0.92. Watsco, Inc. has a 1 year low of $396.82 and a 1 year high of $571.42. The business’s 50-day moving average is $489.58 and its 200 day moving average is $495.31.

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

Watsco Announces Dividend

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

Insiders Place Their Bets

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.86% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WSO. Raymond James began coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating on the stock. Loop Capital raised their price objective on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research note on Thursday, February 27th. Northcoast Research began coverage on Watsco in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Robert W. Baird raised their price objective on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $486.25.

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.