KLP Kapitalforvaltning AS Has $5.48 Million Holdings in Watsco, Inc. $WSO

KLP Kapitalforvaltning AS lifted its position in shares of Watsco, Inc. (NYSE:WSO) by 1.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 12,400 shares of the construction company’s stock after purchasing an additional 200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Watsco were worth $5,476,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of WSO. Goldman Sachs Group Inc. grew its holdings in Watsco by 62.8% in the first quarter. Goldman Sachs Group Inc. now owns 468,875 shares of the construction company’s stock worth $238,329,000 after purchasing an additional 180,951 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Watsco in the first quarter worth $54,536,000. Charles Schwab Investment Management Inc. grew its holdings in Watsco by 6.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,454,512 shares of the construction company’s stock worth $739,088,000 after purchasing an additional 82,977 shares during the period. Nuveen LLC acquired a new stake in Watsco in the first quarter worth $41,218,000. Finally, Blair William & Co. IL grew its holdings in Watsco by 5.7% in the first quarter. Blair William & Co. IL now owns 814,712 shares of the construction company’s stock worth $414,118,000 after purchasing an additional 43,776 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Price Performance

NYSE:WSO opened at $366.64 on Friday. The firm has a 50-day moving average of $403.95 and a 200-day moving average of $445.25. The company has a market cap of $14.87 billion, a PE ratio of 28.12 and a beta of 0.94. Watsco, Inc. has a one year low of $366.30 and a one year high of $571.41.

Watsco (NYSE:WSO) last posted its earnings results on Wednesday, July 30th. The construction company reported $4.52 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.32). The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a return on equity of 16.96% and a net margin of 7.08%.The company’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $4.49 earnings per share. On average, equities research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Thursday, October 16th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, October 16th. Watsco’s dividend payout ratio is presently 92.02%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Watsco in a report on Wednesday. UBS Group reduced their price target on shares of Watsco from $450.00 to $425.00 and set a “neutral” rating for the company in a report on Tuesday, September 23rd. Finally, Morgan Stanley reduced their price objective on shares of Watsco from $505.00 to $460.00 and set an “equal weight” rating for the company in a report on Wednesday. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $472.50.

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.