Sumitomo Mitsui Trust Group Inc. Acquires 3,879 Shares of Watsco, Inc. (NYSE:WSO)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Watsco, Inc. (NYSE:WSO) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,637 shares of the construction company’s stock after acquiring an additional 3,879 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.17% of Watsco worth $32,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of WSO. Ashton Thomas Securities LLC bought a new position in shares of Watsco in the third quarter worth about $43,000. Quarry LP raised its stake in Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after acquiring an additional 33 shares during the period. Brooklyn Investment Group purchased a new position in Watsco during the third quarter valued at approximately $48,000. MCF Advisors LLC boosted its position in shares of Watsco by 27.8% in the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after purchasing an additional 25 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Watsco in the fourth quarter worth $90,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WSO has been the topic of a number of recent analyst reports. Raymond James initiated coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating on the stock. Robert W. Baird decreased their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Northcoast Research started coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $488.33.

Watsco Stock Up 0.9 %

Watsco stock opened at $471.99 on Wednesday. The company has a market cap of $19.06 billion, a PE ratio of 36.48 and a beta of 0.95. Watsco, Inc. has a twelve month low of $373.33 and a twelve month high of $571.41. The company’s 50-day moving average price is $488.57 and its 200-day moving average price is $491.37.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is 83.46%.

Insider Activity

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction on Wednesday, December 18th. The shares were 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 Securities & Exchange Commission, which is available through this hyperlink. 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.