CIBC Asset Management Inc Has $1.03 Million Stake in Watsco, Inc. (NYSE:WSO)

CIBC Asset Management Inc lifted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 4.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,170 shares of the construction company’s stock after acquiring an additional 87 shares during the period. CIBC Asset Management Inc’s holdings in Watsco were worth $1,028,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. FMR LLC boosted its stake in Watsco by 10.6% during the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after acquiring an additional 346,470 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Watsco by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock valued at $616,357,000 after buying an additional 62,041 shares in the last quarter. State Street Corp lifted its stake in Watsco by 5.9% in the third quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock valued at $577,350,000 after buying an additional 65,846 shares in the last quarter. Geode Capital Management LLC lifted its stake in Watsco by 9.9% in the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock valued at $345,783,000 after buying an additional 63,254 shares in the last quarter. Finally, Markel Group Inc. lifted its stake in Watsco by 2.0% in the third quarter. Markel Group Inc. now owns 582,500 shares of the construction company’s stock valued at $286,520,000 after buying an additional 11,250 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

NYSE:WSO opened at $498.12 on Friday. Watsco, Inc. has a one year low of $380.58 and a one year high of $571.41. The company has a market cap of $20.11 billion, a P/E ratio of 37.59 and a beta of 0.95. The firm’s fifty day moving average price is $484.75 and its two-hundred day moving average price is $492.37.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. As a group, equities research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current year.

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 $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.17%. Watsco’s dividend payout ratio is currently 81.51%.

Insider Buying and Selling at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 12.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WSO shares. Robert W. Baird lifted their price target on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday. Northcoast Research assumed coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Finally, Raymond James assumed coverage on shares of Watsco in a report on Friday, January 17th. They set a “market perform” rating on the stock. 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, the stock currently has an average rating of “Hold” and a consensus target price of $495.00.

About Watsco

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.