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

AIA Group Ltd lessened its holdings in shares of Watsco, Inc. (NYSE:WSO) by 37.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Rialto Wealth Management LLC purchased a new position in shares of Watsco in the fourth quarter valued at $31,000. Wingate Wealth Advisors Inc. purchased a new position in Watsco during the 4th quarter valued at about $36,000. Quarry LP increased its position in shares of Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after buying an additional 33 shares during the period. Atala Financial Inc purchased a new stake in shares of Watsco in the fourth quarter worth about $49,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Watsco in the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

Shares of NYSE:WSO opened at $509.53 on Tuesday. The firm has a fifty day moving average of $496.37 and a 200 day moving average of $499.01. Watsco, Inc. has a 52-week low of $396.82 and a 52-week high of $571.42. The firm has a market capitalization of $20.59 billion, a PE ratio of 38.45 and a beta of 0.92.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.13 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. On average, sell-side analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.12%. Watsco’s payout ratio is 81.51%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WSO. Loop Capital increased their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday, February 27th. Robert W. Baird lifted their price objective on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Raymond James began coverage on Watsco in a research note on Friday, January 17th. They issued a “market perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $486.25.

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.