Stock Yards Bank & Trust Co. Purchases 341 Shares of Watsco, Inc. (NYSE:WSO)

Stock Yards Bank & Trust Co. lifted its position in shares of Watsco, Inc. (NYSE:WSO) by 18.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,209 shares of the construction company’s stock after acquiring an additional 341 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Watsco were worth $1,047,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP bought a new stake in Watsco during the 2nd quarter worth about $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Watsco during the 3rd quarter worth approximately $43,000. Massmutual Trust Co. FSB ADV grew its position in shares of Watsco by 30.6% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after buying an additional 22 shares during the period. Brooklyn Investment Group bought a new stake in shares of Watsco during the third quarter worth approximately $48,000. Finally, MCF Advisors LLC lifted its holdings in Watsco by 27.8% in the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after buying an additional 25 shares during the period. Institutional investors own 89.71% of the company’s stock.

Insiders Place Their Bets

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the business’s 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 legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 12.86% of the company’s stock.

Watsco Trading Down 0.2 %

NYSE:WSO opened at $477.41 on Tuesday. The stock has a market cap of $19.28 billion, a price-to-earnings ratio of 36.89 and a beta of 0.95. The stock has a 50-day moving average price of $497.99 and a two-hundred day moving average price of $492.44. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41.

Watsco Announces Dividend

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

Analysts Set New Price Targets

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

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.