Avanza Fonder AB Has $1.97 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

Avanza Fonder AB decreased its position in Watsco, Inc. (NYSE:WSO) by 3.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,788 shares of the construction company’s stock after selling 125 shares during the quarter. Avanza Fonder AB’s holdings in Watsco were worth $1,972,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WSO. Manitou Investment Management Ltd. bought a new position in shares of Watsco during the 1st quarter worth approximately $25,000. City Holding Co. bought a new position in Watsco during the first quarter worth $29,000. Rialto Wealth Management LLC acquired a new position in shares of Watsco in the fourth quarter valued at $31,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Watsco in the fourth quarter valued at $36,000. Finally, ST Germain D J Co. Inc. increased its holdings in shares of Watsco by 260.0% in the first quarter. ST Germain D J Co. Inc. now owns 72 shares of the construction company’s stock valued at $37,000 after purchasing an additional 52 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

WSO stock opened at $444.81 on Thursday. The company’s 50-day simple moving average is $470.28 and its 200 day simple moving average is $488.97. Watsco, Inc. has a 52 week low of $430.20 and a 52 week high of $571.42. The company has a market capitalization of $18.02 billion, a PE ratio of 33.57 and a beta of 1.06.

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.36). Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the company posted $2.17 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. On average, analysts forecast that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were paid a $3.00 dividend. The ex-dividend date was Tuesday, April 15th. This is an increase from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a dividend yield of 2.70%. Watsco’s dividend payout ratio is 92.24%.

Analyst Ratings Changes

WSO has been the topic of several research reports. Mizuho set a $490.00 price objective on shares of Watsco in a report on Thursday, April 24th. Morgan Stanley initiated coverage on shares of Watsco in a report on Monday, April 14th. They issued an “equal weight” rating and a $515.00 price objective on the stock. Wall Street Zen upgraded shares of Watsco from a “sell” rating to a “hold” rating in a report on Friday, May 9th. JPMorgan Chase & Co. upped their price objective on shares of Watsco from $445.00 to $460.00 and gave the company a “neutral” rating in a report on Tuesday, May 27th. Finally, Robert W. Baird decreased their price objective on shares of Watsco from $560.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $486.67.

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.