Watsco, Inc. (NYSE:WSO) Shares Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Watsco, Inc. (NYSE:WSO) by 89.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,317 shares of the construction company’s stock after acquiring an additional 620 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Watsco were worth $564,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new position in Watsco in the fourth quarter valued at $102,958,000. International Assets Investment Management LLC increased its position in Watsco by 40,702.6% during the 4th quarter. International Assets Investment Management LLC now owns 205,237 shares of the construction company’s stock worth $87,938,000 after purchasing an additional 204,734 shares in the last quarter. Invesco Ltd. raised its holdings in Watsco by 120.4% in the third quarter. Invesco Ltd. now owns 300,059 shares of the construction company’s stock valued at $113,338,000 after buying an additional 163,915 shares during the period. Envestnet Asset Management Inc. lifted its position in Watsco by 111.1% during the third quarter. Envestnet Asset Management Inc. now owns 292,832 shares of the construction company’s stock valued at $110,608,000 after buying an additional 154,105 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Watsco in the fourth quarter worth $64,908,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Watsco news, Director John Alexander Macdonald sold 5,334 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total value of $2,487,830.94. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Barry S. Logan sold 774 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $473.85, for a total value of $366,759.90. Following the completion of the transaction, the executive vice president now directly owns 1,770 shares in the company, valued at $838,714.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Alexander Macdonald sold 5,334 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $466.41, for a total value of $2,487,830.94. The disclosure for this sale can be found here. Corporate insiders own 12.86% of the company’s stock.

Watsco Trading Down 0.8 %

NYSE:WSO opened at $479.46 on Friday. Watsco, Inc. has a 52 week low of $315.17 and a 52 week high of $488.70. The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. The company has a market cap of $19.32 billion, a PE ratio of 36.88 and a beta of 0.86. The business’s 50 day moving average is $442.45 and its two-hundred day moving average is $413.90.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.83 earnings per share. On average, analysts predict that Watsco, Inc. will post 14.26 EPS for the current year.

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.25%. This is a boost from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date of this dividend was Friday, April 12th. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Analyst Upgrades and Downgrades

WSO has been the subject of several analyst reports. Robert W. Baird upped their target price on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Stephens reissued an “overweight” rating and issued a $500.00 price objective on shares of Watsco in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $404.25.

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.