Swedbank AB Sells 69,956 Shares of Watsco, Inc. (NYSE:WSO)

Swedbank AB cut its stake in Watsco, Inc. (NYSE:WSO) by 40.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,831 shares of the construction company’s stock after selling 69,956 shares during the quarter. Swedbank AB owned 0.26% of Watsco worth $49,204,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Toronto Dominion Bank increased its stake 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 acquiring an additional 1,038 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in shares of 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 last quarter. Larson Financial Group LLC grew its position in shares of 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 period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of 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 period. Finally, Franklin Resources Inc. grew its position in shares of 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 period. 89.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Robert W. Baird decreased their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Raymond James assumed coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Finally, Northcoast Research assumed coverage on Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $488.33.

Watsco Stock Down 1.0 %

NYSE:WSO opened at $482.64 on Thursday. Watsco, Inc. has a twelve month low of $373.33 and a twelve month high of $571.41. The business has a 50 day moving average price of $502.60 and a two-hundred day moving average price of $493.05. The company has a market cap of $19.49 billion, a P/E ratio of 37.30 and a beta of 0.95.

Watsco Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Friday, January 17th. Watsco’s dividend payout ratio (DPR) is currently 83.46%.

Insiders Place Their Bets

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 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.