Exchange Traded Concepts LLC Purchases New Position in Watsco, Inc. (NYSE:WSO)

Exchange Traded Concepts LLC purchased a new stake in shares of Watsco, Inc. (NYSE:WSO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,093 shares of the construction company’s stock, valued at approximately $2,414,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its stake in shares of Watsco by 32.2% in the third 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 last quarter. Citizens Financial Group Inc. RI raised its stake in shares of Watsco by 40.6% in the third 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 last quarter. Larson Financial Group LLC raised its stake in shares of Watsco by 3,571.0% in the third 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 last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Watsco by 1.7% in the third 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 last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Watsco by 5.6% in the third 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 last quarter. 89.71% of the stock is owned by institutional investors.

Watsco Stock Performance

Shares of NYSE WSO opened at $494.93 on Monday. The stock has a market cap of $19.99 billion, a P/E ratio of 38.25 and a beta of 0.95. The firm has a 50 day moving average price of $505.31 and a 200 day moving average price of $493.17. 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 disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Friday, January 17th. Watsco’s dividend payout ratio is currently 83.46%.

Insider Activity at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 12.86% of the company’s stock.

Wall Street Analyst Weigh In

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

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.