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

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Watsco, Inc. (NYSE:WSO) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,637 shares of the construction company’s stock after buying an additional 3,879 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Watsco were worth $32,526,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Watsco in the third quarter worth $43,000. Quarry LP grew its holdings in shares of Watsco by 57.9% in the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after purchasing an additional 33 shares during the last quarter. Brooklyn Investment Group purchased a new position in Watsco in the 3rd quarter worth about $48,000. MCF Advisors LLC lifted its holdings in Watsco by 27.8% during the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after buying an additional 25 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Watsco in the 4th quarter valued at about $90,000. 89.71% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.86% of the company’s stock.

Watsco Stock Performance

Shares of WSO opened at $471.99 on Wednesday. The company has a 50 day moving average price of $488.57 and a 200-day moving average price of $491.37. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The stock has a market capitalization of $19.06 billion, a PE ratio of 36.48 and a beta of 0.95.

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 given a dividend of $2.70 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.29%. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Robert W. Baird reduced their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Raymond James assumed coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating on the stock. Finally, Northcoast Research began coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Watsco currently has an average rating of “Hold” and an average target price of $488.33.

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.