Hunter Associates Investment Management LLC Reduces Stake in Watsco, Inc. (NYSE:WSO)

Hunter Associates Investment Management LLC trimmed its holdings in shares of Watsco, Inc. (NYSE:WSO) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,405 shares of the construction company’s stock after selling 150 shares during the period. Hunter Associates Investment Management LLC’s holdings in Watsco were worth $3,031,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Toronto Dominion Bank boosted its holdings in Watsco by 32.2% in the third quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock valued at $2,094,000 after purchasing an additional 1,038 shares during the last quarter. Citizens Financial Group Inc. RI lifted its holdings in 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 acquiring an additional 929 shares during the period. Larson Financial Group LLC grew its stake 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 purchasing an additional 1,107 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Watsco by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock worth $31,853,000 after buying an additional 1,074 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Watsco by 5.6% during the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock valued at $25,645,000 after buying an additional 2,738 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.86% of the stock is currently owned by corporate insiders.

Watsco Price Performance

Shares of NYSE:WSO opened at $483.62 on Friday. The firm has a market capitalization of $19.53 billion, a P/E ratio of 37.37 and a beta of 0.95. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $571.41. The company’s fifty day moving average price is $501.33 and its 200 day moving average price is $492.98.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $2.70 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.23%. Watsco’s dividend payout ratio is currently 83.46%.

Analyst Upgrades and Downgrades

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

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.