EULAV Asset Management Purchases 7,000 Shares of Watsco, Inc. (NYSE:WSO)

EULAV Asset Management increased its position in Watsco, Inc. (NYSE:WSO) by 14.3% in the 4th quarter, Holdings Channel reports. The firm owned 55,900 shares of the construction company’s stock after buying an additional 7,000 shares during the quarter. EULAV Asset Management’s holdings in Watsco were worth $26,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Toronto Dominion Bank lifted its holdings in shares of Watsco by 32.2% during the 3rd 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 period. Citizens Financial Group Inc. RI raised its position 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 worth $1,582,000 after purchasing an additional 929 shares in the last quarter. Larson Financial Group LLC lifted its stake in Watsco by 3,571.0% during the third 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 valued at $31,853,000 after purchasing an additional 1,074 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Watsco by 5.6% in the 3rd quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock valued at $25,645,000 after purchasing an additional 2,738 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

WSO stock opened at $464.98 on Friday. The business has a fifty day moving average price of $491.50 and a 200 day moving average price of $491.80. 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 $18.78 billion, a price-to-earnings ratio of 35.93 and a beta of 0.95.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.32%. Watsco’s dividend payout ratio is 83.46%.

Insiders Place Their Bets

In other news, EVP Barry S. Logan sold 10,998 shares of the company’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 available through this hyperlink. Insiders own 12.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Robert W. Baird cut their target price on 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 Watsco in a report on Friday, November 22nd. They set a “neutral” rating for the company. Finally, Raymond James started coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating on the stock. Three 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.com, Watsco currently has a consensus rating of “Hold” and an average price target 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.