Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Watsco Inc (NYSE:WSO) by 13.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,164 shares of the construction company’s stock after buying an additional 252 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Watsco were worth $301,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in WSO. Ipswich Investment Management Co. Inc. bought a new stake in Watsco in the fourth quarter valued at $87,000. First Hawaiian Bank bought a new stake in Watsco in the third quarter valued at $135,000. Point72 Hong Kong Ltd bought a new stake in Watsco in the third quarter valued at $194,000. Alps Advisors Inc. bought a new stake in Watsco in the third quarter valued at $232,000. Finally, Commonwealth Bank of Australia bought a new stake in Watsco in the third quarter valued at $284,000. Institutional investors and hedge funds own 85.75% of the company’s stock.
In other news, SVP Barry S. Logan sold 2,500 shares of the business’s stock in a transaction dated Thursday, December 20th. The shares were sold at an average price of $141.27, for a total transaction of $353,175.00. Following the completion of the sale, the senior vice president now directly owns 13,300 shares of the company’s stock, valued at $1,878,891. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 13.45% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 31st. Stockholders of record on Wednesday, January 16th were given a dividend of $1.60 per share. The ex-dividend date was Tuesday, January 15th. This is an increase from Watsco’s previous quarterly dividend of $1.45. This represents a $6.40 annualized dividend and a dividend yield of 4.39%. Watsco’s payout ratio is presently 116.79%.
Several research firms have weighed in on WSO. Zacks Investment Research downgraded shares of Watsco from a “hold” rating to a “sell” rating in a research note on Friday, December 7th. Buckingham Research decreased their price target on shares of Watsco from $187.00 to $167.00 and set a “neutral” rating for the company in a research note on Friday, October 26th. Finally, Morgan Stanley initiated coverage on shares of Watsco in a research report on Tuesday, December 18th. They set an “equal weight” rating and a $144.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. Watsco presently has an average rating of “Hold” and an average price target of $176.00.
Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
Read More: How to Use a Moving Average for Trading
Want to see what other hedge funds are holding WSO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Watsco Inc (NYSE:WSO).
Receive News & Ratings for Watsco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watsco and related companies with MarketBeat.com's FREE daily email newsletter.