Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Watsco Inc (NYSE:WSO) by 35.5% in the 4th quarter, Holdings Channel reports. The firm owned 1,816 shares of the construction company’s stock after buying an additional 476 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Watsco were worth $309,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in WSO. HighTower Advisors LLC acquired a new stake in Watsco during the second quarter valued at approximately $257,000. Royal Bank of Canada lifted its stake in Watsco by 46.9% during the second quarter. Royal Bank of Canada now owns 12,986 shares of the construction company’s stock valued at $2,002,000 after purchasing an additional 4,146 shares during the last quarter. State Street Corp lifted its stake in Watsco by 6.8% during the second quarter. State Street Corp now owns 799,293 shares of the construction company’s stock valued at $123,247,000 after purchasing an additional 50,751 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Watsco by 0.7% during the second quarter. The Manufacturers Life Insurance Company now owns 64,773 shares of the construction company’s stock valued at $9,988,000 after purchasing an additional 469 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Watsco by 190.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 7,492 shares of the construction company’s stock valued at $1,155,000 after purchasing an additional 4,910 shares during the last quarter. 81.80% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Barry S. Logan sold 3,246 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $164.30, for a total value of $533,317.80. Following the completion of the sale, the senior vice president now owns 15,800 shares in the company, valued at approximately $2,595,940. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 13.93% of the stock is currently owned by corporate insiders.
Watsco (NYSE:WSO) last issued its quarterly earnings results on Thursday, February 8th. The construction company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.10). The firm had revenue of $964.35 million during the quarter, compared to analysts’ expectations of $965.85 million. Watsco had a net margin of 4.80% and a return on equity of 14.66%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 EPS. research analysts forecast that Watsco Inc will post 6.77 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Tuesday, January 16th were given a $1.25 dividend. The ex-dividend date was Friday, January 12th. This represents a $5.00 annualized dividend and a dividend yield of 2.95%. Watsco’s dividend payout ratio (DPR) is presently 86.36%.
WSO has been the subject of several recent research reports. Morgan Stanley increased their target price on shares of Watsco from $151.00 to $156.00 and gave the company an “underweight” rating in a research note on Thursday, October 26th. KeyCorp reissued a “buy” rating on shares of Watsco in a research note on Friday, November 17th. Zacks Investment Research lowered shares of Watsco from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Stephens set a $169.00 target price on shares of Watsco and gave the company a “hold” rating in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. cut their target price on shares of Watsco from $180.00 to $169.00 and set a “neutral” rating for the company in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Watsco currently has a consensus rating of “Hold” and a consensus price target of $168.88.
Watsco Company Profile
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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