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.

Featured Story: Why do companies pay special dividends?

Want to see what other hedge funds are holding WSO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Watsco, Inc. (NYSE:WSO).

Institutional Ownership by Quarter for Watsco (NYSE:WSO)

Receive News & Ratings for Watsco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watsco and related companies with MarketBeat.com's FREE daily email newsletter.