Baskin Financial Services Inc. Has $32.07 Million Stock Position in Watsco, Inc. (NYSE:WSO)

Baskin Financial Services Inc. increased its position in shares of Watsco, Inc. (NYSE:WSO) by 0.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 67,677 shares of the construction company’s stock after buying an additional 435 shares during the quarter. Watsco makes up 2.6% of Baskin Financial Services Inc.’s investment portfolio, making the stock its 20th largest holding. Baskin Financial Services Inc.’s holdings in Watsco were worth $32,071,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WSO. J. W. Coons Advisors LLC boosted its holdings in Watsco by 0.7% during the third quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock valued at $1,475,000 after acquiring an additional 20 shares during the period. My Legacy Advisors LLC boosted its stake in Watsco by 3.2% during the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock valued at $329,000 after purchasing an additional 21 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after buying an additional 22 shares during the last quarter. CWM LLC increased its position in Watsco by 2.6% in the 3rd quarter. CWM LLC now owns 952 shares of the construction company’s stock worth $468,000 after buying an additional 24 shares during the period. Finally, MCF Advisors LLC lifted its holdings in shares of Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after buying an additional 25 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 transaction of $5,589,293.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 12.86% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on WSO shares. Robert W. Baird cut their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Raymond James started coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Finally, Northcoast Research began coverage on Watsco in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $488.33.

Watsco Trading Down 1.1 %

WSO stock opened at $478.91 on Monday. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41. The business’s 50 day moving average is $499.81 and its 200-day moving average is $492.57. The firm has a market cap of $19.34 billion, a P/E ratio of 37.01 and a beta of 0.95.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were issued a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.26%. Watsco’s payout ratio is presently 83.46%.

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.