Zurcher Kantonalbank Zurich Cantonalbank Has $6.23 Million Holdings in Watsco, Inc. (NYSE:WSO)

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

Several other institutional investors have also recently bought and sold shares of WSO. FMR LLC raised its stake in Watsco by 10.6% during the third 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 in the last quarter. Proficio Capital Partners LLC bought a new stake in Watsco in the fourth quarter valued at approximately $63,603,000. Charles Schwab Investment Management Inc. boosted its holdings in Watsco by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company’s stock valued at $649,957,000 after acquiring an additional 118,713 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in Watsco by 2,128.1% in the third quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock valued at $52,880,000 after acquiring an additional 102,640 shares during the last quarter. Finally, State Street Corp boosted its holdings 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 acquiring an additional 65,846 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

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

Watsco Stock Performance

WSO stock opened at $490.82 on Friday. The company has a market capitalization of $19.83 billion, a price-to-earnings ratio of 37.04 and a beta of 0.92. Watsco, Inc. has a fifty-two week low of $393.88 and a fifty-two week high of $571.41. The stock has a fifty day moving average of $488.48 and a 200-day moving average of $494.83.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.13 by $0.24. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. Equities analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

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

Insider Activity

In related news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which is available through this link. Corporate insiders own 12.86% of the company’s stock.

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.