Cibc World Markets Corp Has $746,000 Stock Holdings in Watsco, Inc. (NYSE:WSO)

Cibc World Markets Corp decreased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 22.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,574 shares of the construction company’s stock after selling 451 shares during the period. Cibc World Markets Corp’s holdings in Watsco were worth $746,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of WSO. Quest Partners LLC raised its holdings in Watsco by 329.3% during the third quarter. Quest Partners LLC now owns 249 shares of the construction company’s stock worth $122,000 after buying an additional 191 shares during the last quarter. Pathstone Holdings LLC raised its holdings in shares of Watsco by 4.1% in the third quarter. Pathstone Holdings LLC now owns 10,298 shares of the construction company’s stock valued at $5,066,000 after purchasing an additional 409 shares during the last quarter. Commerce Bank raised its holdings in shares of Watsco by 59.5% in the third quarter. Commerce Bank now owns 2,046 shares of the construction company’s stock valued at $1,006,000 after purchasing an additional 763 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Watsco by 8.0% in the third quarter. First Horizon Advisors Inc. now owns 512 shares of the construction company’s stock valued at $252,000 after purchasing an additional 38 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its holdings in shares of Watsco by 40.6% in the third quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock valued at $1,582,000 after purchasing an additional 929 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

NYSE WSO opened at $495.89 on Friday. Watsco, Inc. has a 52-week low of $396.82 and a 52-week high of $571.42. The company has a 50-day simple moving average of $493.43 and a 200 day simple moving average of $496.41. The company has a market capitalization of $20.04 billion, a PE ratio of 37.43 and a beta of 0.92.

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, topping analysts’ consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. As a group, analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.18%. Watsco’s dividend payout ratio is presently 81.51%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Robert W. Baird increased their target price on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Raymond James assumed coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Finally, Loop Capital increased their target price on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $486.25.

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.