Watsco, Inc. (NYSE:WSO) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. decreased its position in Watsco, Inc. (NYSE:WSO) by 20.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,075 shares of the construction company’s stock after selling 4,624 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Watsco were worth $8,566,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Avantax Advisory Services Inc. lifted its holdings in Watsco by 0.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 4,582 shares of the construction company’s stock valued at $2,171,000 after acquiring an additional 39 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Watsco by 9.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,500 shares of the construction company’s stock valued at $2,132,000 after purchasing an additional 391 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Watsco by 36.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 752 shares of the construction company’s stock worth $356,000 after buying an additional 199 shares in the last quarter. Saturna Capital Corp grew its position in Watsco by 9.5% in the fourth quarter. Saturna Capital Corp now owns 3,263 shares of the construction company’s stock worth $1,546,000 after buying an additional 284 shares during the last quarter. Finally, Markel Group Inc. increased its holdings in shares of Watsco by 1.4% in the fourth quarter. Markel Group Inc. now owns 590,500 shares of the construction company’s stock valued at $279,832,000 after buying an additional 8,000 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on WSO shares. Northcoast Research began coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Raymond James started coverage on Watsco in a research note on Friday, January 17th. They issued a “market perform” rating on the stock. Robert W. Baird upped their price objective on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Loop Capital lifted their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $486.25.

Insider Transactions at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.86% of the stock is currently owned by company insiders.

Watsco Trading Up 3.4 %

Shares of Watsco stock opened at $508.47 on Friday. Watsco, Inc. has a 1 year low of $396.82 and a 1 year high of $571.42. The company has a market cap of $20.54 billion, a P/E ratio of 38.38 and a beta of 0.92. The stock has a 50-day moving average price of $489.58 and a 200 day moving average price of $495.15.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. On average, equities analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio is currently 81.51%.

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.