Van ECK Associates Corp Lowers Position in Watsco, Inc. (NYSE:WSO)

Van ECK Associates Corp cut its stake in shares of Watsco, Inc. (NYSE:WSO) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,285 shares of the construction company’s stock after selling 285 shares during the period. Van ECK Associates Corp’s holdings in Watsco were worth $2,978,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Toronto Dominion Bank increased its holdings in shares of Watsco by 32.2% in the third quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock worth $2,094,000 after purchasing an additional 1,038 shares during the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of Watsco by 40.6% in the third quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock worth $1,582,000 after purchasing an additional 929 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Watsco by 3,571.0% in the third quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock worth $560,000 after purchasing an additional 1,107 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Watsco by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock worth $31,853,000 after acquiring an additional 1,074 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Watsco by 5.6% during the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock worth $25,645,000 after acquiring an additional 2,738 shares during the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Northcoast Research assumed coverage on Watsco in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Raymond James began coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating on the stock. Finally, Robert W. Baird boosted their target price on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $495.00.

Watsco Stock Up 0.8 %

Shares of NYSE:WSO opened at $515.53 on Friday. The company has a market capitalization of $20.82 billion, a price-to-earnings ratio of 38.91 and a beta of 0.95. Watsco, Inc. has a 52 week low of $377.92 and a 52 week high of $571.41. The firm has a 50 day moving average of $484.99 and a 200 day moving average of $491.92.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.61%. On average, sell-side analysts expect that Watsco, Inc. will post 14.5 EPS for the current year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is presently 81.51%.

Insider Transactions at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 12.86% of the company’s stock.

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.