Aviva PLC Lowers Holdings in Watsco, Inc. (NYSE:WSO)

Aviva PLC reduced its stake in shares of Watsco, Inc. (NYSE:WSO) by 14.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,159 shares of the construction company’s stock after selling 190 shares during the quarter. Aviva PLC’s holdings in Watsco were worth $549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. EP Wealth Advisors LLC bought a new stake in Watsco in the 3rd quarter valued at $265,000. National Bank of Canada FI increased its holdings in shares of Watsco by 764.3% in the third quarter. National Bank of Canada FI now owns 4,745 shares of the construction company’s stock worth $2,334,000 after purchasing an additional 4,196 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Watsco by 8.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 9,942 shares of the construction company’s stock worth $4,890,000 after buying an additional 800 shares in the last quarter. Geode Capital Management LLC boosted its stake in Watsco by 9.9% during the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock valued at $345,783,000 after buying an additional 63,254 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in Watsco by 32.2% during the 3rd quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock valued at $2,094,000 after buying an additional 1,038 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

NYSE:WSO opened at $509.76 on Friday. The firm has a market capitalization of $20.60 billion, a PE ratio of 38.47 and a beta of 1.00. The stock’s fifty day moving average is $496.96 and its 200 day moving average is $498.92. Watsco, Inc. has a fifty-two week low of $396.82 and a fifty-two week high of $571.42.

Watsco (NYSE:WSO) last announced its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $1.67 billion. Equities analysts forecast that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Tuesday, April 15th. This is a positive change from Watsco’s previous quarterly dividend of $2.70. Watsco’s payout ratio is 90.57%.

Analysts Set New Price Targets

Several analysts have recently issued reports on WSO shares. Loop Capital upped their price objective on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a report on Thursday, February 27th. Raymond James initiated coverage on shares of Watsco in a research note on Friday, January 17th. They set a “market perform” rating on the stock. Finally, Robert W. Baird lifted their price objective 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Watsco presently has a consensus rating of “Hold” and an average price target of $486.25.

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.