AIA Group Ltd Sells 2,968 Shares of Watsco, Inc. (NYSE:WSO)

AIA Group Ltd trimmed its stake in shares of Watsco, Inc. (NYSE:WSO) by 37.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,979 shares of the construction company’s stock after selling 2,968 shares during the quarter. AIA Group Ltd’s holdings in Watsco were worth $2,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of WSO. Norges Bank purchased a new position in shares of Watsco in the fourth quarter valued at about $118,312,000. Proficio Capital Partners LLC bought a new position in Watsco during the 4th quarter valued at approximately $63,603,000. Charles Schwab Investment Management Inc. lifted its holdings in Watsco by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company’s stock worth $649,957,000 after buying an additional 118,713 shares during the period. Benjamin Edwards Inc. grew its position in shares of Watsco by 2,128.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock worth $52,880,000 after buying an additional 102,640 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Watsco by 5.9% during the third quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock valued at $577,350,000 after buying an additional 65,846 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WSO has been the topic of several recent analyst reports. Raymond James started coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating on the stock. Loop Capital lifted their target price on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research note on Thursday, February 27th. Finally, Robert W. Baird increased their price target on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $486.25.

Watsco Price Performance

NYSE:WSO opened at $509.53 on Tuesday. The firm’s 50-day moving average price is $496.37 and its 200-day moving average price is $499.01. The company has a market capitalization of $20.59 billion, a PE ratio of 38.45 and a beta of 0.92. Watsco, Inc. has a 1-year low of $396.82 and a 1-year high of $571.42.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Equities analysts anticipate 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, January 31st. Shareholders of record on Friday, January 17th were paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is 81.51%.

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.