Rhumbline Advisers Buys 1,601 Shares of Watsco, Inc. (NYSE:WSO)

Rhumbline Advisers lifted its stake in Watsco, Inc. (NYSE:WSO) by 1.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 106,391 shares of the construction company’s stock after acquiring an additional 1,601 shares during the period. Rhumbline Advisers owned 0.26% of Watsco worth $50,418,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Toronto Dominion Bank grew its holdings in Watsco by 32.2% in the 3rd 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 last quarter. Citizens Financial Group Inc. RI grew its holdings in Watsco by 40.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock valued at $1,582,000 after buying an additional 929 shares during the last quarter. Larson Financial Group LLC grew its holdings in Watsco by 3,571.0% in the 3rd quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock valued at $560,000 after buying an additional 1,107 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Watsco by 1.7% in the 3rd 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 during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Watsco by 5.6% in the 3rd 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. 89.71% of the stock is owned by institutional investors.

Watsco Trading Up 1.8 %

Shares of NYSE:WSO opened at $485.21 on Tuesday. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41. The firm has a market capitalization of $19.59 billion, a PE ratio of 37.50 and a beta of 0.95. The business’s 50 day moving average is $484.70 and its 200-day moving average is $491.17.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio is 83.46%.

Analysts Set New Price Targets

WSO has been the topic of a number of research analyst reports. Northcoast Research initiated coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Robert W. Baird decreased their price objective 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 initiated coverage on 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 assigned a buy rating to the stock. According to MarketBeat, Watsco presently has a consensus rating of “Hold” and a consensus target price of $488.33.

Insider Activity at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction on 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 document filed with the SEC, which is accessible through this link. 12.86% of the stock is owned by insiders.

Watsco 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.