Sit Investment Associates Inc. Buys 2,900 Shares of Watsco Inc (WSO)
Sit Investment Associates Inc. lifted its stake in shares of Watsco Inc (NYSE:WSO) by 30.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,545 shares of the construction company’s stock after purchasing an additional 2,900 shares during the period. Sit Investment Associates Inc.’s holdings in Watsco were worth $2,133,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. San Francisco Sentry Investment Group CA acquired a new position in shares of Watsco during the 2nd quarter worth approximately $125,000. CIBC Asset Management Inc acquired a new position in shares of Watsco during the 3rd quarter worth approximately $206,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Watsco by 14.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,340 shares of the construction company’s stock worth $207,000 after purchasing an additional 166 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Watsco during the 3rd quarter worth approximately $207,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Watsco during the 3rd quarter worth approximately $215,000. Institutional investors and hedge funds own 82.40% of the company’s stock.
In related news, SVP Barry S. Logan sold 3,246 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $164.30, for a total value of $533,317.80. Following the transaction, the senior vice president now directly owns 15,800 shares in the company, valued at $2,595,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 13.93% of the company’s stock.
Several research analysts have recently weighed in on the company. Zacks Investment Research cut Watsco from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Morgan Stanley boosted their target price on Watsco from $141.00 to $151.00 and gave the stock an “underweight” rating in a report on Monday, September 25th. Finally, KeyCorp restated a “buy” rating on shares of Watsco in a report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Watsco currently has an average rating of “Hold” and an average target price of $160.40.
Watsco Inc (NYSE WSO) opened at $174.24 on Friday. Watsco Inc has a twelve month low of $134.08 and a twelve month high of $175.16. The firm has a market capitalization of $6,230.00, a P/E ratio of 31.97 and a beta of 0.83. The company has a current ratio of 3.13, a quick ratio of 1.42 and a debt-to-equity ratio of 0.21.
Watsco (NYSE:WSO) last released its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.82 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.13). Watsco had a net margin of 4.46% and a return on equity of 15.00%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the company posted $1.78 earnings per share. The company’s revenue was down .9% on a year-over-year basis. research analysts predict that Watsco Inc will post 5.59 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Tuesday, January 16th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Friday, January 12th. Watsco’s dividend payout ratio is presently 91.74%.
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Watsco Company Profile
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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