AIA Group Ltd Cuts Stock Position in Watsco, Inc. (NYSE:WSO)

AIA Group Ltd lessened its stake in Watsco, Inc. (NYSE:WSO) by 17.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,817 shares of the construction company’s stock after selling 2,519 shares during the quarter. AIA Group Ltd’s holdings in Watsco were worth $5,063,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new stake in Watsco in the 4th quarter worth $26,000. Rise Advisors LLC purchased a new stake in Watsco in the 4th quarter worth $30,000. BKM Wealth Management LLC purchased a new stake in Watsco in the 4th quarter worth $32,000. Hartford Financial Management Inc. increased its holdings in Watsco by 53.1% in the 4th quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock worth $32,000 after acquiring an additional 26 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Watsco by 44.1% during the fourth quarter. Allworth Financial LP now owns 98 shares of the construction company’s stock worth $42,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Trading Down 0.4 %

Shares of WSO stock traded down $1.44 on Thursday, hitting $402.50. 118,867 shares of the stock traded hands, compared to its average volume of 335,759. The firm’s 50-day moving average price is $409.14 and its two-hundred day moving average price is $398.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 3.36. The stock has a market capitalization of $15.90 billion, a PE ratio of 29.57 and a beta of 0.90. Watsco, Inc. has a twelve month low of $314.87 and a twelve month high of $447.49.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, February 13th. The construction company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.44). The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.65 billion. Watsco had a net margin of 7.36% and a return on equity of 21.36%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.35 EPS. As a group, analysts anticipate that Watsco, Inc. will post 14.19 EPS for the current year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a dividend of $2.70 per share. This is a boost from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date of this dividend is Friday, April 12th. This represents a $10.80 annualized dividend and a dividend yield of 2.68%. Watsco’s payout ratio is presently 79.06%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird upped their target price on shares of Watsco from $400.00 to $410.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $396.00.

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.