KLP Kapitalforvaltning AS Has $5.48 Million Stock Holdings in Watsco, Inc. $WSO

KLP Kapitalforvaltning AS boosted its stake in Watsco, Inc. (NYSE:WSO) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,400 shares of the construction company’s stock after purchasing an additional 200 shares during the period. KLP Kapitalforvaltning AS’s holdings in Watsco were worth $5,476,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Watsco in the 1st quarter valued at approximately $25,000. WPG Advisers LLC bought a new position in Watsco in the 1st quarter valued at approximately $25,000. TCTC Holdings LLC lifted its stake in Watsco by 115.4% in the 1st quarter. TCTC Holdings LLC now owns 56 shares of the construction company’s stock valued at $28,000 after purchasing an additional 30 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Watsco in the 2nd quarter valued at approximately $26,000. Finally, Rossby Financial LCC bought a new position in Watsco in the 1st quarter valued at approximately $33,000. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Down 3.7%

WSO opened at $366.64 on Friday. Watsco, Inc. has a twelve month low of $366.30 and a twelve month high of $571.41. The company has a fifty day moving average of $403.95 and a 200-day moving average of $445.25. The stock has a market cap of $14.87 billion, a PE ratio of 28.12 and a beta of 0.94.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Wednesday, July 30th. The construction company reported $4.52 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.32). Watsco had a return on equity of 16.96% and a net margin of 7.08%.The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the company earned $4.49 earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. Sell-side analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Thursday, October 16th will be given a dividend of $3.00 per share. The ex-dividend date is Thursday, October 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.3%. Watsco’s dividend payout ratio is 92.02%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on WSO shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Watsco in a research note on Wednesday. UBS Group dropped their price objective on shares of Watsco from $450.00 to $425.00 and set a “neutral” rating for the company in a research note on Tuesday, September 23rd. Finally, Morgan Stanley dropped their price target on shares of Watsco from $505.00 to $460.00 and set an “equal weight” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Watsco has a consensus rating of “Hold” and a consensus target price of $472.50.

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.