Watsco, Inc. (NYSE:WSO) Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in shares of Watsco, Inc. (NYSE:WSO) by 28.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,719 shares of the construction company’s stock after selling 2,300 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Watsco were worth $2,710,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WSO. Toronto Dominion Bank boosted its holdings in Watsco by 32.2% in the 3rd quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock valued at $2,094,000 after purchasing an additional 1,038 shares during the last quarter. Citizens Financial Group Inc. RI boosted its holdings in Watsco by 40.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock valued at $1,582,000 after purchasing an additional 929 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Watsco by 3,571.0% in the 3rd quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock valued at $560,000 after purchasing an additional 1,107 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Watsco by 1.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock valued at $31,853,000 after purchasing an additional 1,074 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Watsco by 5.6% in the 3rd quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock valued at $25,645,000 after purchasing an additional 2,738 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction that occurred 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 SEC, which can be accessed through this hyperlink. 12.86% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WSO. Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Raymond James began coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating on the stock. Finally, Robert W. Baird boosted their target price on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $495.00.

Watsco Stock Performance

Watsco stock opened at $498.19 on Thursday. The company’s 50 day simple moving average is $484.56 and its 200-day simple moving average is $492.99. The company has a market capitalization of $20.12 billion, a price-to-earnings ratio of 37.60 and a beta of 0.95. Watsco, Inc. has a 1 year low of $383.06 and a 1 year high of $571.41.

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

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is currently 81.51%.

Watsco 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.