Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 1,195 Shares of Watsco, Inc. (NYSE:WSO)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Watsco, Inc. (NYSE:WSO) by 11.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,532 shares of the construction company’s stock after buying an additional 1,195 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Watsco were worth $5,465,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of WSO. Toronto Dominion Bank grew its position in Watsco by 32.2% during the 3rd quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock worth $2,094,000 after acquiring an additional 1,038 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in 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 in the last quarter. Larson Financial Group LLC grew its holdings in shares of Watsco by 3,571.0% during 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 shares of Watsco by 1.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock valued at $31,853,000 after buying an additional 1,074 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Watsco by 5.6% in the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock valued at $25,645,000 after buying an additional 2,738 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Trading Down 0.6 %

Shares of NYSE:WSO opened at $494.93 on Monday. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41. The stock has a market capitalization of $19.99 billion, a P/E ratio of 38.25 and a beta of 0.95. The business has a 50-day moving average price of $505.31 and a two-hundred day moving average price of $493.17.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Friday, January 17th. Watsco’s dividend payout ratio (DPR) is 83.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Northcoast Research assumed coverage on shares of Watsco in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Robert W. Baird lowered their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Raymond James began coverage on shares of Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Three 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, Watsco presently has a consensus rating of “Hold” and a consensus price target of $488.33.

Insider Buying and Selling at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.