Swedbank AB Has $49.20 Million Holdings in Watsco, Inc. (NYSE:WSO)

Swedbank AB lessened its stake in Watsco, Inc. (NYSE:WSO) by 40.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 103,831 shares of the construction company’s stock after selling 69,956 shares during the quarter. Swedbank AB’s holdings in Watsco were worth $49,204,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Toronto Dominion Bank boosted its holdings in shares of 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 buying an additional 1,038 shares during the last quarter. Citizens Financial Group Inc. RI raised its stake 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 acquiring an additional 929 shares during the period. Larson Financial Group LLC raised its stake 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 acquiring an additional 1,107 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake 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 acquiring an additional 1,074 shares during the period. Finally, Franklin Resources Inc. raised its stake 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 acquiring an additional 2,738 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on WSO shares. Northcoast Research started coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Robert W. Baird dropped their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Raymond James started coverage on Watsco in a research note on Friday, January 17th. They issued a “market perform” rating on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $488.33.

Watsco Price Performance

WSO stock opened at $482.64 on Thursday. The stock has a market capitalization of $19.49 billion, a price-to-earnings ratio of 37.30 and a beta of 0.95. The business’s fifty day moving average price is $502.60 and its two-hundred day moving average price is $493.05. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Friday, January 17th. Watsco’s payout ratio is 83.46%.

Insiders Place Their Bets

In other news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 12.86% of the company’s stock.

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.