Principal Financial Group Inc. Sells 514 Shares of Watsco, Inc. (NYSE:WSO)

Principal Financial Group Inc. decreased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,967 shares of the construction company’s stock after selling 514 shares during the period. Principal Financial Group Inc.’s holdings in Watsco were worth $30,158,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WSO. Rockefeller Capital Management L.P. lifted its stake in Watsco by 82.4% during the second quarter. Rockefeller Capital Management L.P. now owns 538 shares of the construction company’s stock worth $154,000 after purchasing an additional 243 shares during the period. Atria Investments LLC lifted its stake in Watsco by 5.6% during the second quarter. Atria Investments LLC now owns 5,235 shares of the construction company’s stock worth $1,501,000 after purchasing an additional 278 shares during the period. Van ECK Associates Corp lifted its stake in Watsco by 131.6% during the second quarter. Van ECK Associates Corp now owns 454 shares of the construction company’s stock worth $130,000 after purchasing an additional 258 shares during the period. BNP Paribas Arbitrage SA lifted its stake in Watsco by 174.4% during the second quarter. BNP Paribas Arbitrage SA now owns 22,342 shares of the construction company’s stock worth $6,404,000 after purchasing an additional 14,200 shares during the period. Finally, Ethic Inc. lifted its stake in Watsco by 32.2% during the second quarter. Ethic Inc. now owns 1,617 shares of the construction company’s stock worth $463,000 after purchasing an additional 394 shares during the period. Hedge funds and other institutional investors own 77.45% of the company’s stock.

NYSE WSO opened at $298.05 on Friday. The firm has a market cap of $11.56 billion, a price-to-earnings ratio of 30.23 and a beta of 0.79. The company has a 50 day moving average of $304.21 and a 200-day moving average of $289.57. Watsco, Inc. has a 1-year low of $230.10 and a 1-year high of $318.98.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, October 19th. The construction company reported $3.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.55 by $0.07. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.83 billion. Watsco had a net margin of 6.52% and a return on equity of 20.51%. The company’s revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted $2.76 earnings per share. Research analysts expect that Watsco, Inc. will post 10.47 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 31st. Investors of record on Friday, January 14th will be issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, January 13th. Watsco’s dividend payout ratio is currently 79.11%.

Separately, Zacks Investment Research lowered shares of Watsco from a “buy” rating to a “hold” rating and set a $330.00 price objective for the company. in a report on Tuesday, December 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Watsco has an average rating of “Hold” and an average price target of $288.29.

About Watsco

Watsco, Inc engages in distribution of air conditioning, heating and refrigeration equipment and related parts. Its products include residential central air conditioners, gas, electric & oil furnaces, commercial air conditioning & heating equipment, and other specialized equipment, parts, including replacement compressors, evaporator coils, motors and other component parts; and supplies, including thermostats, insulation material, refrigerants, ductwork, grills, registers, sheet metal, tools, copper tubing, concrete pads, tape, adhesives, and other ancillary supplies.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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