Chicago Capital LLC Makes New $1.01 Million Investment in Watsco, Inc. (NYSE:WSO)

Chicago Capital LLC bought a new stake in Watsco, Inc. (NYSE:WSO) in the fourth quarter, Holdings Channel.com reports. The firm bought 2,123 shares of the construction company’s stock, valued at approximately $1,006,000.

Other hedge funds also recently bought and sold shares of the company. Toronto Dominion Bank grew its holdings in shares of Watsco by 32.2% during the 3rd quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock worth $2,094,000 after purchasing an additional 1,038 shares during the period. Citizens Financial Group Inc. RI grew its holdings in Watsco by 40.6% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock worth $1,582,000 after acquiring an additional 929 shares in the last quarter. Larson Financial Group LLC increased its holdings in Watsco by 3,571.0% in the third 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. raised its position in shares of Watsco by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock worth $31,853,000 after acquiring an additional 1,074 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Watsco by 5.6% during the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock worth $25,645,000 after purchasing an additional 2,738 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analysts Set New Price Targets

WSO has been the subject of several research analyst reports. Robert W. Baird decreased their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Northcoast Research assumed coverage on Watsco in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Finally, Raymond James began coverage on shares of Watsco in a report on Friday, January 17th. They set a “market perform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $488.33.

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 12.86% of the stock is currently owned by insiders.

Watsco Stock Down 0.2 %

Watsco stock opened at $477.41 on Tuesday. The firm has a market capitalization of $19.28 billion, a P/E ratio of 36.89 and a beta of 0.95. The firm has a fifty day moving average of $497.99 and a 200-day moving average of $492.44. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is 83.46%.

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.