Norges Bank Invests $84.83 Million in Watsco, Inc. $WSO

Norges Bank acquired a new stake in Watsco, Inc. (NYSE:WSO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 192,079 shares of the construction company's stock, valued at approximately $84,826,000. Norges Bank owned about 0.47% of Watsco at the end of the most recent quarter.Other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Vermont lifted its stake in Watsco by 10.2% in the second quarter. Trust Co. of Vermont now owns 238 shares of the construction company's stock valued at $105,000 after acquiring an additional 22 shares during the last quarter. Cary Street Partners Financial LLC lifted its stake in Watsco by 2.2% in the 1st quarter. Cary Street Partners Financial LLC now owns 1,073 shares of the construction company's stock valued at $545,000 after purchasing an additional 23 shares during the last quarter. Freedom Investment Management Inc. grew its holdings in Watsco by 4.8% during the first quarter. Freedom Investment Management Inc. now owns 504 shares of the construction company's stock worth $256,000 after purchasing an additional 23 shares during the period. Synovus Financial Corp increased its position in Watsco by 5.9% during the first quarter. Synovus Financial Corp now owns 522 shares of the construction company's stock worth $265,000 after buying an additional 29 shares during the last quarter. Finally, KBC Group NV raised its stake in Watsco by 0.7% in the second quarter. KBC Group NV now owns 4,700 shares of the construction company's stock valued at $2,076,000 after buying an additional 32 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds. Analyst Upgrades and DowngradesWSO has been the subject of several research analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Watsco in a research note on Thursday, October 30th. Zacks Research downgraded shares of Watsco from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 29th. William Blair restated a "market perform" rating on shares of Watsco in a research note on Wednesday, October 15th. UBS Group decreased their price target on shares of Watsco from $425.00 to $390.00 and set a "neutral" rating on the stock in a research note on Thursday, November 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Watsco from $400.00 to $360.00 and set a "neutral" rating for the company in a research report on Thursday, October 30th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Watsco currently has a consensus rating of "Hold" and a consensus target price of $435.00.Check Out Our Latest Report on WSOWatsco Stock PerformanceWSO stock opened at $347.55 on Friday. Watsco, Inc. has a 52 week low of $323.05 and a 52 week high of $535.40. The company has a market capitalization of $14.10 billion, a PE ratio of 27.15 and a beta of 1.01. The company's 50-day simple moving average is $363.21 and its 200 day simple moving average is $409.09. Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings data on Friday, November 7th. The construction company reported $3.98 earnings per share (EPS) for the quarter. Watsco had a net margin of 7.04% and a return on equity of 16.48%. The firm had revenue of $2.07 billion during the quarter. On average, analysts forecast that Watsco, Inc. will post 14.62 EPS for the current year. Watsco Dividend AnnouncementThe business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Thursday, October 16th were paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Thursday, October 16th. Watsco's dividend payout ratio (DPR) is 93.75%. About Watsco (Free Report)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.Further ReadingFive stocks we like better than WatscoHow to Use the MarketBeat Stock Screener The Trade Desk: After a 70% Plunge, This Could Be The Time to BuyManufacturing Stocks InvestingTap Into 2026 AI Infrastructure Gains With This High-Growth ETFAre Penny Stocks a Good Fit for Your Portfolio?Strong Quarter, Weak Reaction: Why GitLab Shares DroppedThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Watsco Right Now?Before you consider Watsco, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Watsco wasn't on the list.While Watsco currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here