CIBC Asset Management Inc Has $1.03 Million Holdings in Watsco, Inc. (NYSE:WSO)

CIBC Asset Management Inc raised its stake in Watsco, Inc. (NYSE:WSO) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,170 shares of the construction company’s stock after purchasing an additional 87 shares during the period. CIBC Asset Management Inc’s holdings in Watsco were worth $1,028,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Toronto Dominion Bank lifted 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 acquiring an additional 1,038 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in shares of 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 during the period. Larson Financial Group LLC lifted its holdings in shares of Watsco by 3,571.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock worth $560,000 after acquiring an additional 1,107 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings 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 during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Watsco by 5.6% during the 3rd quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock worth $25,645,000 after acquiring an additional 2,738 shares during the period. 89.71% of the stock is owned by institutional investors.

Watsco Stock Down 3.3 %

Shares of WSO stock opened at $498.12 on Friday. Watsco, Inc. has a 12-month low of $380.58 and a 12-month high of $571.41. The company has a market capitalization of $20.11 billion, a P/E ratio of 37.59 and a beta of 0.95. The firm has a 50-day moving average price of $484.75 and a 200 day moving average price of $492.37.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.24. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. As a group, research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is presently 81.51%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WSO. Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They set a “neutral” rating for the company. Raymond James started coverage on shares of Watsco in a report on Friday, January 17th. They set a “market perform” rating for the company. Finally, Robert W. Baird lifted their price target on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $495.00.

Insider Buying and Selling at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.86% of the company’s stock.

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.