First Citizens Bank & Trust Co. Buys 54 Shares of Watsco, Inc. (NYSE:WSO)

First Citizens Bank & Trust Co. lifted its stake in shares of Watsco, Inc. (NYSE:WSO) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 674 shares of the construction company’s stock after purchasing an additional 54 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Watsco were worth $319,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of Watsco by 10.6% in the third quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after buying an additional 346,470 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Watsco by 48,984.7% during the 3rd quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock worth $114,924,000 after acquiring an additional 233,167 shares during the period. Benjamin Edwards Inc. lifted its stake in Watsco by 2,128.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock worth $52,880,000 after purchasing an additional 102,640 shares in the last quarter. State Street Corp boosted its holdings in Watsco by 5.9% in the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock valued at $577,350,000 after purchasing an additional 65,846 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Watsco by 9.9% in the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock valued at $345,783,000 after purchasing an additional 63,254 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.86% of the stock is owned by insiders.

Watsco Stock Down 0.5 %

NYSE WSO opened at $486.89 on Wednesday. The stock’s 50-day simple moving average is $503.62 and its two-hundred day simple moving average is $493.12. Watsco, Inc. has a twelve month low of $373.33 and a twelve month high of $571.41. The company has a market capitalization of $19.66 billion, a price-to-earnings ratio of 37.63 and a beta of 0.95.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $2.70 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.22%. Watsco’s payout ratio is 83.46%.

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.