Skandinaviska Enskilda Banken AB publ Has $4.75 Million Stake in Watsco, Inc. $WSO

Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 46.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,753 shares of the construction company’s stock after buying an additional 3,407 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Watsco were worth $4,749,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WSO. Norges Bank acquired a new stake in Watsco during the 2nd quarter worth $84,826,000. Quadrature Capital Ltd bought a new position in shares of Watsco in the 2nd quarter worth $445,000. State Board of Administration of Florida Retirement System grew its stake in shares of Watsco by 3.6% during the second quarter. State Board of Administration of Florida Retirement System now owns 37,441 shares of the construction company’s stock worth $16,535,000 after purchasing an additional 1,298 shares during the period. Korea Investment CORP increased its holdings in Watsco by 12.5% in the second quarter. Korea Investment CORP now owns 25,625 shares of the construction company’s stock valued at $11,317,000 after purchasing an additional 2,840 shares during the last quarter. Finally, Employees Retirement System of Texas bought a new stake in Watsco in the second quarter valued at about $2,525,000. 89.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WSO. JPMorgan Chase & Co. reduced their target price on Watsco from $400.00 to $360.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Watsco in a research report on Thursday, October 30th. Morgan Stanley decreased 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, October 8th. Mizuho lowered their target price on shares of Watsco from $525.00 to $400.00 and set a “neutral” rating for the company in a research note on Friday, October 17th. Finally, Zacks Research cut shares of Watsco from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $435.00.

Watsco Stock Performance

Shares of WSO opened at $346.40 on Monday. The stock has a 50 day simple moving average of $366.93 and a 200 day simple moving average of $411.92. Watsco, Inc. has a 52-week low of $323.05 and a 52-week high of $562.56. The firm has a market capitalization of $14.05 billion, a PE ratio of 27.06 and a beta of 0.93.

Watsco (NYSE:WSO) last announced its earnings results on Friday, November 7th. The construction company reported $3.98 EPS for the quarter. The firm had revenue of $2.07 billion for the quarter. Watsco had a net margin of 7.04% and a return on equity of 16.48%. Equities research analysts predict that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Thursday, October 16th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, October 16th. Watsco’s payout ratio is currently 93.75%.

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.