Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in Watsco, Inc. (NYSE:WSO)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Watsco, Inc. (NYSE:WSO) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,151 shares of the construction company’s stock after purchasing an additional 247 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Watsco were worth $6,232,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Toronto Dominion Bank increased its stake in shares of Watsco by 32.2% during the third quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock valued at $2,094,000 after buying an additional 1,038 shares during the period. Citizens Financial Group Inc. RI boosted its holdings 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 acquiring an additional 929 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Watsco by 3,571.0% in the third quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock worth $560,000 after acquiring an additional 1,107 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised 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 worth $31,853,000 after purchasing an additional 1,074 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake 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 worth $25,645,000 after purchasing an additional 2,738 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Trading Down 2.6 %

Shares of Watsco stock opened at $490.82 on Friday. The firm has a market cap of $19.83 billion, a PE ratio of 37.04 and a beta of 0.92. Watsco, Inc. has a 12 month low of $393.88 and a 12 month high of $571.41. The stock has a 50 day moving average of $488.48 and a 200 day moving average of $494.83.

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

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.20%. Watsco’s payout ratio is 81.51%.

Wall Street Analysts Forecast Growth

WSO has been the subject of several recent analyst reports. Northcoast Research assumed coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Raymond James started coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Robert W. Baird upped their price target on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Loop Capital upped their price objective on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Watsco currently has an average rating of “Hold” and a consensus price target of $486.25.

Insider Transactions at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.86% of the company’s stock.

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.