Swiss National Bank Cuts Stock Position in Watsco, Inc. (NYSE:WSO)

Swiss National Bank cut its holdings in shares of Watsco, Inc. (NYSE:WSO) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,244 shares of the construction company’s stock after selling 4,900 shares during the period. Swiss National Bank owned about 0.24% of Watsco worth $46,557,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Rialto Wealth Management LLC acquired a new position in shares of Watsco during the fourth quarter worth about $31,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Watsco during the fourth quarter worth about $36,000. Quarry LP grew 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 worth $44,000 after buying an additional 33 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Watsco during the third quarter worth about $48,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Watsco during the fourth quarter worth about $50,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on WSO shares. Northcoast Research started coverage on Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Loop Capital boosted their price objective on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Robert W. Baird boosted their price objective on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Raymond James began coverage on Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $486.25.

Insider Activity

In other news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.86% of the company’s stock.

Watsco Stock Up 3.4 %

Shares of WSO opened at $508.47 on Monday. The stock has a 50 day moving average price of $489.58 and a 200 day moving average price of $495.31. The company has a market capitalization of $20.54 billion, a price-to-earnings ratio of 38.38 and a beta of 0.92. Watsco, Inc. has a 52-week low of $396.82 and a 52-week high of $571.42.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. On average, equities 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 was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is currently 81.51%.

Watsco Company 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.